This edition is brought to you by Groundfloor.
THE SETUP & THE DATA
US bond funds pulled in $625 billion over the past year — the highest since 2010 — as investors chased fixed, uncorrelated yield over bond price gains.
Add a Fed path that’s diverged from market pricing more than once this year, tariff policy still working through corporate margins, and capital quietly rotating out of dollar assets, and a return that doesn’t move with any of it gets easier to want.
Real estate debt has been one of the more durable versions of that trade, though access has usually meant fund minimums and lockups.
Private market and insurers now fund $1.2 trillion of the $6.4 trillion U.S. CRE debt market — 18.3%, per Moody’s — projected to reach $2.7 trillion as banks keep ceding ground.
For individual investors, that shift has historically meant one thing: institutional yield, now available directly.
THE CATALYST
Through October 31, Groundfloor is adding a bonus on top of every fixed Note rate.
For accredited investors: up to 2% on the 24-month Preferred Note, 1% on the 12-month Preferred Note, and 0.5% on the 6-month Preferred Note.
On the 12-month Signature Note — open to every investor — the bonus is 1% on top of its fixed 8% rate.
All Notes are first-lien, real estate-backed, with a perfect repayment track record since 2018.
On a $100,000 position in the 24-month Note, that’s $18,000 in fixed interest plus a $2,000 bonus — $20,000 total, ending at $120,000.
THE POSITION
Groundfloor offers fixed-rate Notes backed by first-lien real estate loans — a direct way to hold private real estate exposure without originating, underwriting, or servicing a loan yourself.
See the full Notes structure →
Term range: 6 to 24 months
Fixed rate: up to 9% annually, by term
Minimum entry: as low as $100 (non-accredited) / $10K+ for Preferred rates (accredited)
Fees: zero
ENTRY / EXIT
Entry zone: any time before October 31 — the full bonus stays active across that entire window, so there’s no edge to waiting.
Exit: fixed at maturity (6–24 months, by term), with none of the mark-to-market risk a duration bet on Treasuries carries. Bonus credits post November 13.
TRACK RECORD
Every Groundfloor Note since 2018 has paid in full and on time, through rate hikes, a pandemic, a banking crisis and two bear markets, with more than $39M in interest paid. Investors have noticed. Monthly active Notes investors are up 281% in a year, and over 90% of new investors start with a fixed Note.
Example assumes a $100,000 investment in the 24-Month Preferred Note. Bonus is not interest and is issued as restricted investing credit; not available on 1-mo or 3-mo Notes. Rates shown are fixed and annualized, simple over the stated term. There are no fees to invest in Notes. All investing involves risk, including possible loss of principal. Not FDIC insured.
This is not a regular Macro Notes edition, but a sponsored edition by Groundfloor. The next Macro Notes edition will be published tomorrow, October 27.
To sponsor Macro Notes and reach our 70,000 readers interested in investing and macroeconomics, visit: https://macronotes.com/partner-with-us/