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European Commercial Real Estate Debt

Our real estate platform leverages AB’s culture of research-based, deep value investing. We work to deliver attractive risk-adjusted returns to investors in transitional lending.

Experienced Team. Solution-Focused.

Commercial real estate direct lending is a core component of AB’s private alternatives platform, with established lending businesses in Europe and the US and more than 35 investment professionals dedicated to commercial real estate debt investing. Since launching in the US in 2012 and expanding into Europe in 2020, the combined platform has raised approximately €12 billion in dedicated capital commitments, including more than €1.6 billion focused on European opportunities for the European Commercial Real Estate Debt (“ECRED”) platform.*

AB ECRED focuses on providing tailored capital solutions to experienced sponsors across European markets. The team combines deep real estate credit expertise, disciplined underwriting and extensive jurisdictional knowledge with longstanding borrower and market relationships throughout Europe. This approach enables the platform to structure flexible financing solutions while seeking to deliver attractive risk-adjusted outcomes for investors.

The platform invests across the capital structure, including senior loans, whole loans, subordinate loans, and preferred or structured equity investments. Investment opportunities are sourced through both direct origination and secondary participations or syndications across traditional and alternative property sectors.

AB ECRED underwrites investments across major European jurisdictions and throughout multiple stages of a property’s lifecycle, including development, refurbishment, repositioning, stabilization and asset sell-down strategies. With experienced investment professionals based across the UK and continental Europe, the team seeks to provide borrowers with responsive execution, local market insight and certainty of capital.

*Capital raised as of 31 December 2025

US$1.3bn
AUM
6
Investment Professionals
2020
Inception Date

As at 31 March, 2024

Representative Transactions

Whole Loan
Spain, Residential For Sale
Investment Date: 1 August 2022
Whole Loan
Netherlands, Mixed Use
Investment Date: 29 July 2022
Subordinate Loan
United Kingdom, Residential For Rent
Investment Date: 27 January 2022
Whole Loan
United Kingdom, Residential For Sale
Investment Date: 29 March 2021

AB’s In Conversation With Pete Gordon and Clark Coffee

September 2024

In this episode, we speak with Pete Gordon & Clark Coffee, AB’s Heads of US & EMEA Commercial Real Estate Debt platforms. We ask them what commercial real estate debt is as an asset class and where it fits in a portfolio.

Listen Time: 22 minutes

For more information about AB’s real estate platform, speak to a member of our team.

Jeremy Browne

Managing Director
Australia Client Group
(02)9255 1230
Jeremy.Browne@AllianceBernstein.com

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