AllianceBernstein has completed the first closing of its fourth U.S. Commercial Real Estate Debt fund (CRED IV) with close to $900 million in capital commitments.
Equitable will serve as a lead investor in CRED IV, which will directly originate floating-rate first-mortgage whole loans secured by high-quality, transitional U.S. commercial real estate.
CRED IV is a continuation of the transitional real estate lending strategy implemented by previous AB CRED funds. The platform of CRED funds has originated more than 100 loans and raised nearly $7 billion in capital commitments from institutional investors globally, since 2013.
“Attracting close to $900 million in capital commitments for CRED IV’s first closing demonstrates the continued appeal of our US CRED funds, which are poised to continue thriving as opportunities continue
