# EDGAR Filing Document

**Accession Number:** 0001876255
**File Stem:** 0001193125-25-208916
**Filing Date:** 2025-9
**Character Count:** 15552
**Document Hash:** 4b44c334eeb58a09b8d1a6dcf932a99d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-208916.hdr.sgml**: 20250919

**ACCESSION NUMBER**: 0001193125-25-208916

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250917

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250919

**DATE AS OF CHANGE**: 20250919

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AB Commercial Real Estate Private Debt Fund, LLC
- **CENTRAL INDEX KEY:** 0001876255
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 871137341
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56320
- **FILM NUMBER:** 251326301

**BUSINESS ADDRESS:**
- **STREET 1:** 66 HUDSON BOULEVARD EAST
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001
- **BUSINESS PHONE:** 212-969-1000

**MAIL ADDRESS:**
- **STREET 1:** 66 HUDSON BOULEVARD EAST
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM 8-K

#### Current Report

#### Pursuant to Section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): September 17, 2025

## AB COMMERCIAL REAL ESTATE PRIVATE DEBT FUND, LLC

#### (Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **000-56320** | **87-1137341** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission**<br> **File Number)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

#### 66 Hudson Boulevard East

#### New York, New York 10001

#### (Address of principal executive offices and zip code)

#### Registrant's telephone number, including area code: (212) 486-5800
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange**<br> **on which registered** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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#### Item 1.01 – Entry into a Material Definitive Agreement.
On September 17, 2025, AB Commercial Real Estate Private Debt Fund, LLC (the "Fund") entered into an amendment (the "Amendment") to the master repurchase and securities contract agreement (as amended, the "Agreement"), by and among Morgan Stanley Mortgage Capital Holdings LLC, as the administrative agent, Morgan Stanley Bank, N.A., as the buyer, AB CRE PDF Member I LLC, as seller, and the Fund, as the guarantor.

The Amendment increased the master repurchase facility size from $400,000,000 to $500,000,000. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment attached hereto as Exhibit 10.1.

#### Item 2.03 – Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosure set forth above under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

#### Item 9.01 – Financial Statements and Exhibits.
(d) Exhibits

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 10.1 | [Fifth Omnibus Amendment, dated as of September 17, 2025, by and among Morgan Stanley Mortgage Capital Holdings LLC, as the administrative agent, Morgan Stanley Bank, N.A., as the buyer, AB CRE PDF Member I LLC, as seller, and the Fund, as the guarantor.](d58467dex101.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| Date: September 19, 2025 | AB COMMERCIAL REAL ESTATE PRIVATE DEBT FUND, LLC | AB COMMERCIAL REAL ESTATE PRIVATE DEBT FUND, LLC |
|  | By: | /s/ Leon Hirth |
|  |  | Leon Hirth |
|  |  | Secretary |

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## Exhibit 10.1

**Exhibit 10.1** 

FIFTH OMNIBUS AMENDMENT

THIS FIFTH OMNIBUS AMENDMENT (this "<u>Amendment</u>"), dated as of September 17, 2025, by and among MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, a New York limited liability company, as administrative agent (in such capacity, together with its permitted successors and assigns, the "<u>Administrative Agent</u>") for MORGAN STANLEY BANK, N.A., a national banking association ("<u>MSBNA</u>"), as Buyer (MSBNA, together with its successors and assigns, and together with such other financial institutions from time to time party thereto, collectively "<u>Buyers</u>" and individually, each a "<u>Buyer</u>"), AB CRE PDF MEMBER I LLC, a Delaware limited liability company, as seller ("<u>Seller</u>") and AB COMMERCIAL REAL ESTATE PRIVATE DEBT FUND, LLC, a Delaware limited liability company ("<u>Guarantor</u>"), amends that certain Master Repurchase and Securities Contract Agreement, dated April 27, 2022, by and among Administrative Agent, Buyer and Seller (as the same has been or may be further amended, modified and/or restated from time to time, the "<u>Repurchase Agreement</u>"), and the other Transaction Documents as provided herein.

<u>RECITALS</u> 

WHEREAS, the parties hereto desire to make certain amendments to the Repurchase Agreement as provided herein.

NOW, THEREFORE, for good and valuable consideration, the parties hereto agree as follows:

1. <u>Amendment to Repurchase Agreement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The definitions of " <u>Facility Amount</u> " and " <u>Facility Termination Date</u> " in
Section 2 of the Repurchase Agreement are hereby amended and restated in their entirety as follows:

"<u>Facility Amount</u>" shall mean $500,000,000, subject to any (i) reduction in accordance with Section 9(b) hereof or (ii) increase in accordance with Section 9(c) hereof.

"<u>Facility Termination Date</u>" shall mean April 27, 2027, as the same may be extended in accordance with Section 9(a) of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The definition of " <u>Key Person Event</u> " in Section 2 of the Repurchase Agreement is hereby
deleted in its entirety.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Section 3 of the Repurchase Agreement is hereby amended by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) (x) deleting the "; and" at the end of clause 3(f)(xv) and replacing it with "." and
(y) deleting clause 3(f)(xvi) thereof in its entirety; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) deleting subsection 3(h)(xi) in its entirety and replacing it with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) [ <u>Reserved</u> ]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Section 9 of the Repurchase Agreement is hereby amended by deleting the lead in paragraph of clause
(c) and replacing it with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Increase of Facility Amount</u>. The Facility Amount may be increased up to $550,000,000; provided that the
Facility Increase Conditions (as defined below) are satisfied. For the purposes of this clause (c), "Facility Increase Conditions" shall mean:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Section 14 of the Repurchase Agreement is hereby amended by (x) deleting the "; or" at
the end of clause 14(a)(xx) thereof and replacing it with "." and (y) deleting clause 14(a)(xxi) thereof in its entirety.

2. <u>Conditions Precedent</u>. This Amendment shall become effective as of the date hereof (the
" <u>Amendment Effective Date</u> "), subject to the satisfaction of the following conditions precedent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Delivered Documents</u>. On the Amendment Effective Date, the Administrative Agent on behalf of Buyers shall
have received the following documents, each of which shall be satisfactory to the Administrative Agent in form and substance:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) this Amendment, executed and delivered by duly authorized officers of the Administrative Agent, the Buyers, the
Seller and the Guarantor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Seller's delivery of a legal opinion with respect to the corporate authority and enforceability of such
amendment in substantially the same form as the legal opinion delivered to Administrative Agent on the Effective Date of the Repurchase Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) such other documents as the Administrative Agent or counsel to the Administrative Agent may reasonably request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Facility Increase Fee</u>. On the Amendment Effective Date, the Administrative Agent on behalf of Buyers
shall have received a prorated portion of the Facility Increase Fee in an amount equal to $152,054.79.

3. <u>Defined Terms</u>. Capitalized terms used but not defined herein shall have the meanings set forth in the
Repurchase Agreement.

4. <u>Ratification and Authority</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Seller hereby represents and warrants that (1) Seller has the power and authority to enter into this
Amendment and to perform its obligations under the Repurchase Agreement as amended hereby and the other Transaction Documents, (2) Seller has by proper action duly authorized the execution and delivery of this Amendment and (3) this
Amendment has been duly executed and delivered by Seller and constitutes Seller's legal, valid and binding obligations, enforceable in accordance with its terms, subject to bankruptcy, insolvency and similar laws of general applicability
relating to or affecting creditors' rights and to general equity principles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Seller hereby (1) unconditionally ratifies and confirms, renews and reaffirms all of its obligations under
the Repurchase Agreement and each of the other Transaction Documents, (2) acknowledges and agrees that such obligations remain in full force and effect, binding on and enforceable against it in accordance with the terms of the Repurchase
Agreement as amended hereby and the other Transaction Documents, in each case, subject to bankruptcy, insolvency and similar laws of

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general applicability relating to or affecting creditors' rights and to general equity principles and (3) represents, warrants and covenants that it is not in default under the Repurchase Agreement or any of the other Transaction Documents beyond any applicable notice and cure periods, and there are no defenses, offsets or counterclaims against Seller's obligations under the Repurchase Agreement or the other Transaction Documents.

5. <u>Continuing Effect</u>. Except as expressly amended by this Amendment, the Repurchase Agreement and the other
Transaction Documents remain in full force and effect in accordance with their respective terms.

6. <u>References to Transaction Documents</u>. All references to the Repurchase Agreement and the Guaranty in any
Transaction Document, or in any other document executed or delivered in connection therewith shall, from and after the execution and delivery of this Amendment, be deemed a reference to the Repurchase Agreement or Guaranty, as applicable, as amended
hereby, unless the context expressly requires otherwise.

7. <u>Governing Law</u>. This Amendment shall be governed by and construed and interpreted in accordance with the
laws of the State of New York.

8. <u>Counterparts</u>. This Amendment may be executed in any number of counterparts, each of which when so
executed and delivered shall be an original, but all of which shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment in Portable Document Format (PDF) or by facsimile transmission
shall be effective as delivery of a manually executed original counterpart thereof.

9. <u>Reaffirmation of Guaranty</u>. Guarantor hereby ratifies and affirms all of the terms, covenants, conditions
and obligations of the Guaranty and acknowledges and agrees that the term "Obligations" as used in the Guaranty shall apply to all of the Repurchase Obligations of Seller to Administrative Agent, on behalf of Buyers, under the Repurchase
Agreement, as amended hereby.

[Signatures appear on the next page]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered in their names as of the date first above written.

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| | |
|:---|:---|
| **<u>ADMINISTRATIVE AGENT:</u>** | **<u>ADMINISTRATIVE AGENT:</u>** |
| **MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC** | **MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC** |
| By: | /s/ Anthony Preisano |
|  | Name: Anthony Preisano |
|  | Title: Managing Director |
| **<u>BUYER:</u>** | **<u>BUYER:</u>** |
| **MORGAN STANLEY BANK, N.A.,** | **MORGAN STANLEY BANK, N.A.,** |
| a national banking association | a national banking association |
| By: | /s/ Evan Hershy |
|  | Name: Evan Hershy |
|  | Title: Authorized Signatory |

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[Signatures continue on the next page]

Signature Page to Fifth Omnibus Amendment

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| | |
|:---|:---|
| **<u>SELLER:</u>** | **<u>SELLER:</u>** |
| **AB CRE PDF MEMBER I LLC,** | **AB CRE PDF MEMBER I LLC,** |
| a Delaware limited liability company | a Delaware limited liability company |
| By: | /s/ Marguerite (Midge) Brogan |
|  | Name: Marguerite (Midge) Brogan |
|  | Title: Director |
| **<u>GUARANTOR:</u>** | **<u>GUARANTOR:</u>** |
| **AB COMMERCIAL REAL ESTATE PRIVATE DEBT FUND, LLC,** | **AB COMMERCIAL REAL ESTATE PRIVATE DEBT FUND, LLC,** |
| a Delaware limited liability company | a Delaware limited liability company |
| By: | /s/ Marguerite (Midge) Brogan |
|  | Name: Marguerite (Midge) Brogan |
|  | Title: Director |

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Signature Page to Fifth Omnibus Amendment