AllianceBernstein raises almost $900m in RE debt fund

AllianceBernstein has completed the first close of its fourth U.S. Commercial Real Estate Debt fund (CRED IV) with nearly $900 million in capital commitments.

Equitable is serving as a lead investor, which represents a continuation of the strong partnership between the two firms as AllianceBernstein (AB) expands its alternatives platform.

CRED IV will directly originate floating-rate first mortgage whole loans secured by high quality, transitional U.S. commercial real estate. The loans are held on an unleveraged basis, and the strategy is a continuation of previous AB CRED funds.

“Attracting close . . .

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