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.

Real estate direct lending is a pillar of AB’s alternative investment business, with platforms in Europe and the US and over 29 investment professionals dedicated to commercial real estate debt. Combined, the platforms have raised over €11.7 billion of capital commitments, with more than €1.6 billion dedicated to European opportunities for the European Commercial Real Estate Debt (“ECRED”) platform.*

AB focuses on providing flexible capital to sponsors, which helps them implement their business plans and drives financial returns. The ECRED team brings experience, impressive breadth of knowledge, and an extensive relationship network throughout Europe, delivering unique value to borrowers and ECRED investors.

In the region, AB invests across the capital structure, including whole loans, subordinate loans, and preferred/structured equity. The business focuses on both direct origination and secondary participations/syndications to source investment opportunities.

The team underwrites traditional and alternative property types across all major European jurisdictions. Its lending criteria supports all stages of a property’s lifecycle including development, refurbishment/repositioning, stabilization, and sell-down business plans. AB underwrites loans ranging in size from €25 to €100 million.

With seasoned investment professionals based in the UK and continental Europe, AB is a solutions-oriented capital partner committed to providing clients with timely responses and a high level of execution certainty.

*Capital raised as of 30 June 2022

Representative Transations


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

Senior Team

Clark Coffee

Clark Coffee

Chief Investment Officer and Head—European Commercial Real Estate Debt

clark.coffee@alliancebernstein.com

Bio

Shivam Rastogi

Shivam Rastogi

Managing Director—European Commercial Real Estate Debt

shivam.rastogi@alliancebernstein.com

Bio

Daniel Stengel

Daniel Stengel

General Counsel—European Commercial Real Estate Debt

daniel.stengel@alliancebernstein.com

Bio