October was quite a month. Coming off of a very difficult third quarter, global equities had their best month since October 2011, while listed real estate —  globally and in the Asia Pacific region — had stellar returns, as well. Globally, the markets were bolstered by weakening global economic data, which spurred hopes of further fiscal stimulus measures and a delay in the US Federal Reserve’s interest rate hike. More immediate to the Asia Pacific region, signs of better-than-expected performance from China and additional stimulus measures there helped the region. If we needed any reminder that interest rate expectations continue to drive short-term market performance, however, the torrid pace abruptly halted toward month’s end when the Fed suggested a December rate hike was still on the table. The net result was an Asia Pacific listed real estate market that was up 6.2 percent for the month, which helped erase some of the mid-summer losses and put the sector at a –3.8 p