Abby Wenzel has stepped down from her position on the board of directors at the American Strategic Investment Company (ASIC), a role she held for nine years.
Before joining ASIC, Wenzel had a distinguished career in law and finance. She retired from the Cozen Connor law firm in 2019, where she had been employed since April 2009. At Cozen Connor, her practice areas included real estate and capital markets, with a particular emphasis on capital markets, finance, and sale leaseback transactions. Prior to her tenure at Cozen Connor, Wenzel was a partner with Wolf Block LLP. There, she chaired the structured finance practice from October 1999 to April 2009, as stated in her biography on ASIC’s leadership page.
"On behalf of our shareholders, we wish to acknowledge with gratitude Abby’s significant contribution to ASIC over the past nine years. In her role, Abby’s leadership and steady hand have been vital in guiding the business through significant changes and challenges," said Michael Anderson, CEO of ASIC, in a news release announcing Wenzel's departure.
The same release also announced Nicholas Radesca as Wenzel's successor on the board. Radesca has previously served as chief financial officer (CFO) at several companies including ASIC and AR Global. His appointment is effective immediately.
"We are pleased to welcome Nick back to ASIC and expect his contributions to be very valuable in this new phase of the Company. He joins a board with diverse set of experiences and expertise and believe he will be a great addition," Anderson added in the announcement.
ASIC is a publicly-traded company that manages a portfolio of commercial real estate properties. According to its website, the company's New York-centric portfolio is valued at $854.2 million and comprises eight offices and retail condominiums with an occupancy rate of 85%. The company further reveals that as of September 30, 2022, the remaining lease term is 7.3 years and that the portfolio has been curated with a long-term success strategy in mind.