Arapahoe County Employees Retirement Trust , Littleton, Colo., hired...

Arapahoe County Employees Retirement Trust, Littleton, Colo., hired UBS Realty Investors to manage a $7.5 million real estate portfolio, said Adrian B. Ciazza, treasurer and chairman of the county investment board. The $128 million plan has not determined the funding source, although some of the money will come from operating funds, Mr. Ciazza said. Watershed Investment Consultants assisted.