PMC Commercial shareholder pushes for change, establishes web site

By Lisa Kerner

Charlotte, N.C., Oct. 20 - PMC Commercial Trust's largest shareholder, REIT Redux, said it does not like how PMC operates.

REIT Redux, a 4.5% PMC shareholder, said in a statement that it "continues to take action to encourage PMC to fix its business model."

"We are committed to helping identify a strategic alternative to the way PMC currently operates, including placing the portfolio into runoff and distributing the proceeds to shareholders," REIT Redux president and chief executive officer Robert Stetson said in the statement.

REIT Redux established a web site, www.fixpmc.com, to encourage communication with other PMC shareholders.

PMC is a Dallas-based real estate investment trust.

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