# EDGAR Filing Document

**Accession Number:** 0002006189
**File Stem:** 0001752724-25-211701
**Filing Date:** 2025-8
**Character Count:** 21836
**Document Hash:** 054f8b04373b3000ce03f29c04e59419
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-211701.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-211701

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** First Eagle Real Estate Debt Fund
- **CENTRAL INDEX KEY:** 0002006189

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23925
- **FILM NUMBER:** 251272990

**BUSINESS ADDRESS:**
- **STREET 1:** 1345 AVENUE OF AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105
- **BUSINESS PHONE:** (212) 698-3300

**MAIL ADDRESS:**
- **STREET 1:** 1345 AVENUE OF AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Eagle Real Estate DebtFund
- **DATE OF NAME CHANGE:** 20241226

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Eagle Real Estate Lending Fund
- **DATE OF NAME CHANGE:** 20231227

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** First Eagle Real Estate Debt Fund

- **b. Investment Company Act file number:** 811-23925

- **c. CIK number of Registrant:** 0002006189

- **d. LEI of Registrant:** 254900P954R92WUROE68

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1345 Avenue of the Americas

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10105

  - **Telephone number:** 800-334-2143

**Item A.2. Information about the Series.**

- **a. Name of Series:** First Eagle Real Estate Debt Fund

- **c. LEI of Series:** 254900P954R92WUROE68

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $19462463.74

**Total Liabilities:** $609367.99

**Net Assets:** $18853095.75

**Cash Not Reported:** $1367176.22

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -288.09438168 | **1-Year:** -981.23919011 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.64%                | 0.69%                | 0.67%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-5.61                   | $0.00                                      |
| Month 2  | $-18.94                  | $0.00                                      |
| Month 3  | $56.83                   | $0.00                                      |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **Index Identifier:** Securities Portfolio

### Schedule of Portfolio Investments

| Name                                    | Title                                       | Identifiers            | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| KTL_REAL_ESTATE_LLC                     | Residential Rehab Loan KTL_REAL_ESTATE_LLC  | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    126612 | PA      | $126612.00    | 0.67%             | 2026-05-01      | Fixed         | 10.04%                | Yes           |                  3 | On Loan: No      |
| STRATEGIC_REALTY_REH                    | Residential Rehab Loan STRATEGIC_REALTY_REH | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    105275 | PA      | $105275.00    | 0.56%             | 2026-05-01      | Fixed         | 8.30%                 | Yes           |                  3 | On Loan: No      |
| 4_PILLARS_PROPS_LLC                     | Residential Rehab Loan 4_PILLARS_PROPS_LLC  | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    122700 | PA      | $122700.00    | 0.65%             | 2026-05-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| 3_RIVERVIEW_MB                          | Residential Rehab Loan 3_RIVERVIEW_MB       | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    589450 | PA      | $589450.00    | 3.13%             | 2026-03-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| HERITAGE_CONSTRC_CON                    | Residential Rehab Loan HERITAGE_CONSTRC_CON | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    584500 | PA      | $584500.00    | 3.10%             | 2026-05-01      | Fixed         | 7.30%                 | Yes           |                  3 | On Loan: No      |
| CAP_CITY_HOMEBUYERS                     | Residential Rehab Loan CAP_CITY_HOMEBUYERS  | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    192600 | PA      | $192600.00    | 1.02%             | 2026-04-01      | Fixed         | 10.10%                | Yes           |                  3 | On Loan: No      |
| GMS_PROPERTY_INVEST                     | Residential Rehab Loan GMS_PROPERTY_INVEST  | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    150300 | PA      | $150300.00    | 0.80%             | 2026-05-01      | Fixed         | 10.04%                | Yes           |                  3 | On Loan: No      |
| GORE_PROPERTIES_LLC                     | Residential Rehab Loan GORE_PROPERTIES_LLC  | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    224100 | PA      | $224100.00    | 1.19%             | 2026-05-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| DUKE_PARTNERSII_LLC                     | Residential Rehab Loan DUKE_PARTNERSII_LLC  | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    422500 | PA      | $422500.00    | 2.24%             | 2026-04-01      | Fixed         | 8.30%                 | Yes           |                  3 | On Loan: No      |
| PALMTREE_REAL_ESTATE                    | Residential Rehab Loan PALMTREE_REAL_ESTATE | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    135000 | PA      | $135000.00    | 0.72%             | 2026-05-01      | Fixed         | 8.29%                 | Yes           |                  3 | On Loan: No      |
| ALLEGIANT_INVESTMENT                    | Residential Rehab Loan ALLEGIANT_INVESTMENT | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    294300 | PA      | $294300.00    | 1.56%             | 2026-05-01      | Fixed         | 7.50%                 | Yes           |                  3 | On Loan: No      |
| JANDS_ENTERPRISES                       | Residential Rehab Loan JANDS_ENTERPRISES    | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    540000 | PA      | $540000.00    | 2.86%             | 2027-05-01      | Fixed         | 9.30%                 | Yes           |                  3 | On Loan: No      |
| BlackRock FedFund- Institutional Shares | BlackRock FedFund- Institutional Shares     | CUSIP: N/A<br>LEI: N/A | Long             | STIV             | RF                | US        |   1703287 | NS      | $1703286.57   | 9.03%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYNA_PROPERTIES_LLC                    | Residential Rehab Loan RAYNA_PROPERTIES_LLC | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    300000 | PA      | $300000.00    | 1.59%             | 2026-04-01      | Fixed         | 7.30%                 | Yes           |                  3 | On Loan: No      |
| NJ_RIOS_GROUP_LLC                       | Residential Rehab Loan NJ_RIOS_GROUP_LLC    | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    262375 | PA      | $262375.00    | 1.39%             | 2026-04-01      | Fixed         | 9.60%                 | Yes           |                  3 | On Loan: No      |
| ASHFORD_REALTY_GROUP                    | Residential Rehab Loan ASHFORD_REALTY_GROUP | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    296200 | PA      | $296200.00    | 1.57%             | 2026-05-01      | Fixed         | 9.30%                 | Yes           |                  3 | On Loan: No      |
| ARLINGTON_AVE_PROP                      | Residential Rehab Loan ARLINGTON_AVE_PROP   | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    450000 | PA      | $450000.00    | 2.39%             | 2026-05-01      | Fixed         | 10.04%                | Yes           |                  3 | On Loan: No      |
| ALM_INVEST_GROUP_LLC                    | Residential Rehab Loan ALM_INVEST_GROUP_LLC | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    212200 | PA      | $212200.00    | 1.13%             | 2026-05-01      | Fixed         | 7.75%                 | Yes           |                  3 | On Loan: No      |
| AJX_HOMES_FL_LLC                        | Residential Rehab Loan AJX_HOMES_FL_LLC     | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    295750 | PA      | $295750.00    | 1.57%             | 2026-04-01      | Fixed         | 7.85%                 | Yes           |                  3 | On Loan: No      |
| JRG_III_REALESTATE                      | Residential Rehab Loan JRG_III_REALESTATE   | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    373500 | PA      | $373500.00    | 1.98%             | 2025-09-26      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| J&M_MOORE_ENTERPRISE                    | Residential Rehab Loan J&M_MOORE_ENTERPRISE | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    201500 | PA      | $201500.00    | 1.07%             | 2026-05-01      | Fixed         | 7.80%                 | Yes           |                  3 | On Loan: No      |
| NELLY_HOMES_CORP                        | Residential Rehab Loan NELLY_HOMES_CORP     | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    255300 | PA      | $255300.00    | 1.35%             | 2026-05-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| CANOPY_WEST_LLC                         | Residential Rehab Loan CANOPY_WEST_LLC      | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    166500 | PA      | $166500.00    | 0.88%             | 2026-11-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| NEK_RESTAURANT_HLDGS                    | Residential Rehab Loan NEK_RESTAURANT_HLDGS | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    185200 | PA      | $185200.00    | 0.98%             | 2026-04-01      | Fixed         | 7.85%                 | Yes           |                  3 | On Loan: No      |
| NYC_HOLDING_GROUP                       | Residential Rehab Loan NYC_HOLDING_GROUP    | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    486000 | PA      | $486000.00    | 2.58%             | 2026-09-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| JRG_III_REALESTATE                      | Residential Rehab Loan JRG_III_REALESTATE   | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    382500 | PA      | $382500.00    | 2.03%             | 2025-10-01      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| STARBOARD_VA_LLC                        | Residential Rehab Loan STARBOARD_VA_LLC     | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    672000 | PA      | $672000.00    | 3.56%             | 2026-01-01      | Fixed         | 9.75%                 | Yes           |                  3 | On Loan: No      |
| JMHOMERS_LLC                            | Residential Rehab Loan JMHOMERS_LLC         | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    159800 | PA      | $159800.00    | 0.85%             | 2026-04-01      | Fixed         | 11.09%                | Yes           |                  3 | On Loan: No      |
| NEIGHBORHOOD_HOME                       | Residential Rehab Loan NEIGHBORHOOD_HOME    | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    670944 | PA      | $670944.00    | 3.56%             | 2026-05-01      | Fixed         | 8.54%                 | Yes           |                  3 | On Loan: No      |
| CADOUS_LLC                              | Residential Rehab Loan CADOUS_LLC           | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    411800 | PA      | $411800.00    | 2.18%             | 2026-01-01      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| JAN_REALTY_LLC                          | Residential Rehab Loan JAN_REALTY_LLC       | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    196000 | PA      | $196000.00    | 1.04%             | 2026-05-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| PROPERTIES_BY_T&M                       | Residential Rehab Loan PROPERTIES_BY_T&M    | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    110200 | PA      | $110200.00    | 0.58%             | 2026-04-01      | Fixed         | 10.84%                | Yes           |                  3 | On Loan: No      |
| JHARRIS_INVESTMENTS                     | Residential Rehab Loan JHARRIS_INVESTMENTS  | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |     60000 | PA      | $60000.00     | 0.32%             | 2026-05-01      | Fixed         | 8.04%                 | Yes           |                  3 | On Loan: No      |
| BLUE_GIBRALTAR_LLC                      | Residential Rehab Loan BLUE_GIBRALTAR_LLC   | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    262900 | PA      | $262900.00    | 1.39%             | 2026-04-01      | Fixed         | 8.05%                 | Yes           |                  3 | On Loan: No      |
| HENRY_INVESTMENT                        | Residential Rehab Loan HENRY_INVESTMENT     | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    531200 | PA      | $531200.00    | 2.82%             | 2026-04-01      | Fixed         | 11.09%                | Yes           |                  3 | On Loan: No      |
| LE_ROI_UNIQUE_LLC                       | Residential Rehab Loan LE_ROI_UNIQUE_LLC    | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    107600 | PA      | $107600.00    | 0.57%             | 2026-04-01      | Fixed         | 10.34%                | Yes           |                  3 | On Loan: No      |
| NYC_HOLDING_GROUP                       | Residential Rehab Loan NYC_HOLDING_GROUP    | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    378000 | PA      | $378000.00    | 2.00%             | 2026-07-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| RENOVD_PROPERTIES                       | Residential Rehab Loan RENOVD_PROPERTIES    | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    674000 | PA      | $674000.00    | 3.58%             | 2026-04-25      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| AMCAN_CONSULTING_LLC                    | Residential Rehab Loan AMCAN_CONSULTING_LLC | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    144000 | PA      | $144000.00    | 0.76%             | 2026-05-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| TWO_FRIENDS_ONEGOAL                     | Residential Rehab Loan TWO_FRIENDS_ONEGOAL  | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    277248 | PA      | $277248.00    | 1.47%             | 2026-05-01      | Fixed         | 8.20%                 | Yes           |                  3 | On Loan: No      |
| EMPOWER_AGENCY_GRP                      | Residential Rehab Loan EMPOWER_AGENCY_GRP   | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    136800 | PA      | $136800.00    | 0.73%             | 2026-05-01      | Fixed         | 8.05%                 | Yes           |                  3 | On Loan: No      |
| 1018_HANCOCK_AVE_LLC                    | Residential Rehab Loan 1018_HANCOCK_AVE_LLC | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    720000 | PA      | $720000.00    | 3.82%             | 2026-02-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| AMBITION_GROUP_LLC                      | Residential Rehab Loan AMBITION_GROUP_LLC   | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    144000 | PA      | $144000.00    | 0.76%             | 2026-05-01      | Fixed         | 7.55%                 | Yes           |                  3 | On Loan: No      |
| HHM_PROPERTIES_LLC                      | Residential Rehab Loan HHM_PROPERTIES_LLC   | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    243000 | PA      | $243000.00    | 1.29%             | 2026-05-01      | Fixed         | 7.75%                 | Yes           |                  3 | On Loan: No      |
| ABC_ANDOVER_LLC                         | Residential Rehab Loan ABC_ANDOVER_LLC      | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    930700 | PA      | $930699.99    | 4.94%             | 2026-03-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| SIMPLE_HOME_BUYERS                      | Residential Rehab Loan SIMPLE_HOME_BUYERS   | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    150700 | PA      | $150700.00    | 0.80%             | 2026-04-01      | Fixed         | 10.34%                | Yes           |                  3 | On Loan: No      |
| VERONA_ASSETS_INC                       | Residential Rehab Loan VERONA_ASSETS_INC    | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    157500 | PA      | $157500.00    | 0.84%             | 2025-11-13      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| FREDDY_LLC                              | Residential Rehab Loan FREDDY_LLC           | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    243000 | PA      | $243000.00    | 1.29%             | 2026-04-01      | Fixed         | 12.34%                | Yes           |                  3 | On Loan: No      |
| BLUE_SKY_INVEST                         | Residential Rehab Loan BLUE_SKY_INVEST      | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    148500 | PA      | $148500.00    | 0.79%             | 2025-12-16      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| I_BUY_UGLY_HOMES                        | Residential Rehab Loan I_BUY_UGLY_HOMES     | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    585000 | PA      | $585000.00    | 3.10%             | 2025-09-26      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| ZHS_INVESTMENTS_LLC                     | Residential Rehab Loan ZHS_INVESTMENTS_LLC  | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    600200 | PA      | $600200.00    | 3.18%             | 2026-04-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| CABHOMEZLLC                             | Residential Rehab Loan CABHOMEZLLC          | CUSIP: N/A<br>LEI: N/A | Long             | LON              |  | US        |    138000 | PA      | $138000.00    | 0.73%             | 2026-05-01      | Fixed         | 9.29%                 | Yes           |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** First Eagle Real Estate Debt Fund

**Signature:** Shuang Wu

**Name of Signer:** Shuang Wu

**Title:** Treasurer