CHICAGO—Green Courte Partners LLC, a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, has hired Andrew C. Alexander as the first chief executive officer of its new residential holding company, Green Courte Residential Holdings LLC, which will oversee the operations of True Connection Communities, the firm’s active adult/independent senior living platform, and Windward Communities, its land-lease community platform. True Connection Communities currently consists of 11 senior living communities with more than 1,800 units located in six states, and Windward Communities has 17 communities with more than 6,700 sites located in six states. Alexander will also join Green Courte as a managing director.
David Lentz, Green Courte’s chief executive officer, said, “As we look at the opportunities that lie ahead, we anticipate that we will add additional residential platforms to our portfolio, so we felt it made sense to capture both the efficiencies and the enhanced capabilities that will come from creating a consolidated residential vehicle. We’re thrilled to welcome Andy to the Green Courte team and look forward to leveraging his deep experience developing diverse new brand platforms, marketing to uniquely targeted customer groups, and driving a strong and consistent customer experience.”
Alexander most recently served as the president/chief executive officer of Red Roof, a leader in the economy hospitality business with more than 660 hotel properties, including the Red Roof Inn, Red Roof Plus, The Red Collection and HomeTowne Studios by Red Roof brands. He was hired as Red Roof’s general counsel in 2007 and was elevated to president/CEO in 2009. He previously held positions as the general counsel at Boykin Lodging and as corporate counsel at Renaissance Hotels International. During his tenure at Red Roof, Alexander was responsible for developing and implementing a seven-year plan that transformed the company from an underperforming, single-branded entity to a multi-branded leader in the economy hotel space. Under Alexander’s leadership, Red Roof achieved the highest RevPAR (revenue per available room) of any brand in the economy segment, had the highest quality and service ratings for eight years running and consistently captured market share from its competitors in recent years.
Regarding his new role, Alexander said, “I’m excited to join the Green Courte team and partner with the talented senior leadership at True Connection Communities and Windward Communities, and I look forward to helping Green Courte continue to grow its customer-focused, lifestyle-driven residential housing businesses.”