REAL ESTATE: Pension-Fund Kitty

The men who manage pension and trust funds for workers have a prime problem. How can they invest the $2,500,000,000 to $3 billion that is pouring into the funds each year? Three months ago, Manhattan Realtor Louis Sachar, who heads Marshall Management Corp. and owns or has interests in 85 buildings in New York City, decided to help them with a new investment idea. He persuaded two pension funds to pool part of their cash with his organization and form a real-estate buying group with capital of $140 million. Although Sachar has kept the name of the funds secret,...

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