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Mid-Year CRE Pulse: Earnings, Conversions, and Capital Flows

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The first half of 2025 delivered surprises, slowdowns, and standout performances in commercial real estate.

With Q2 earnings season kicking off and pressure building across key markets, this is the moment to take stock—and prepare for what’s coming next.

In this edition, we break down the key storylines shaping the second half of the year, from major earnings reports to foreign capital inflows and creative conversions in adaptive reuse.

Let’s dive in.

Mark Your Calendars: Apollo Readies for Exciting Q2 2025 Earnings Reveal!

Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) has exciting news for investors!

The company will announce its second-quarter earnings for 2025 on July 29, following market close.

A conference call is scheduled for July 30 at 10:00 a.m.

EDT, where company executives will dive into the financial performance and answer questions. This is a great opportunity for shareholders and interested parties to gain insights into Apollo's operations and outlook.

For those wishing to join the call, registration is required to receive dial-in details, and a replay will be available shortly after the event. Apollo operates primarily in the realm of commercial mortgage loans and is backed by the robust Apollo Global Management.

Get Ready: Blackstone Mortgage Trust Reveals Q2 Earnings on July 30, Don’t Miss Out!

Blackstone Mortgage Trust, Inc. (BXMT) is gearing up for its second-quarter earnings release on July 30, 2025.

Investors and stakeholders can expect the earnings presentation to hit the company’s website pre-market, followed by a live conference call at 9:00 a.m.

ET the same day.

This call will provide valuable insights into BXMT’s financial performance and strategies moving forward.

Can't catch it live? No worries! A replay will be available on the website shortly after.

As a significant player in the real estate finance sector, Blackstone Mortgage Trust focuses on originating and managing loans tied to high-quality commercial properties across key markets.

With a commitment to preserving shareholder capital and generating attractive returns, BXMT continues to shape its portfolio strategically.

Cushman & Wakefield to Reveal Market Activity

Cushman & Wakefield (NYSE: CWK) is gearing up for a significant event: the release of its second quarter 2025 earnings on August 5 at 7:00 a.m.

ET! Following the announcement, management will host a conference call at 9:00 a.m.

ET, where they’ll dive into the financial results and share insights.

Investors and interested parties can join by dialing in or tuning into a live webcast on the company's investor relations website.

With a robust workforce of approximately 52,000 across nearly 400 offices worldwide, Cushman & Wakefield continues to be a leader in global commercial real estate services, reporting an impressive $9.4 billion in revenue in 2024.

Mark your calendars for this unmissable financial update! For more information, visit the company’s website or access the earnings call replay shortly after it concludes.

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From Aisles to Auto: Former Grocery Stores Shine as Innovative Car Washes!

In a surprising twist for commercial real estate, vacant grocery stores are transforming into innovative car washes! Adaptive reuse projects, like the Splash Car Wash in Maumelle, Arkansas, have repurposed old Big Box retailers into state-of-the-art indoor car wash facilities.

Featuring bright LED lighting, enclosed wash tunnels, and even kids’ play areas, these new spaces are revitalizing former grocery spots.

Similar transformations are happening across the U.S.

With places like Valet Auto Wash turning a former Pathmark store into one of the largest car washes in the nation.

As grocery store closures, such as Kroger's recent announcement to shutter 60 locations, continue, the car wash market is expected to thrive, growing nearly 6% annually through 2031.

Allegiant Air Takes Flight: Selling Florida Resort After A Bold Real Estate Adventure!

After investing over $700 million in real estate, Allegiant Air is set to sell its newly developed Sunseeker Resort in Port Charlotte, Florida, marking its exit from the real estate market.

Initially intended to complement the airline’s services and attract customers, the 785 room resort was the first new build in Southwest Florida in over a decade, featuring extensive amenities like an 18 hole golf course and multiple dining establishments.

However, the project faced numerous challenges, including delays from COVID-19, Hurricane Ian, and escalating costs, ultimately resulting in significant financial losses.

With the sale to Blackstone Real Estate for $200 million in the pipeline, Allegiant’s leadership has decided it's time to focus solely on the airline business, stepping away from their ambitious foray into resort and family entertainment development.

This transition indicates a strategic refocusing as Allegiant navigates the complexities of the airline industry.

Booming Real Estate: US, Japan, and Hong Kong Fuel 89% of India's Q2 Foreign Investments!

In an impressive turnaround, India’s real estate sector raked in $1.80 billion in foreign investments during Q2 2025, with a staggering 89% of this influx coming from the US, Japan, and Hong Kong.

This marks a phenomenal 122% increase from the previous quarter, indicating a robust recovery spearheaded by renewed interest in commercial properties, which accounted for 69% of investments.

While residential properties lagged at just 11%, a notable trend emerged: co-investments soared to 15%, showcasing a shift towards risk-averse strategies among foreign investors due to global economic uncertainties.

Domestic contributions dipped slightly to 19%, emphasizing the prevailing reliance on international capital.

Experts predict this momentum will persist, fueled by strong macroeconomic fundamentals and favorable credit conditions following a recent repo rate cut.

Looking Ahead

The second half of 2025 will belong to the investors who move with clarity and speed.

Earnings season will offer plenty of signals. Adaptive reuse is evolving. And capital—foreign and domestic—is flowing fast into new shapes and cities.

We’ll be here every week with insights that help you navigate it all.

Thanks for reading MainStreetNews. Stay sharp.