A Minnesota-based mobile home community management firm has paid $4 million for Pecue Mobile Home Estates, a 141-lot mobile home park located just off Airline Highway across from the Woman’s Hospital campus.
Bruce Simon, president of Park Advisors Inc., says the company owns 35 mobile home parks across the country, including the Azalea Gardens Mobile Home in Baker. The company is based in Plymouth, a suburb of Minneapolis, and it purchased the park from another company based in the Minneapolis area; the latter company is identified as a limited liability partnership called Pecue LLP in sales documents.
“It’s not a coincidence,” says Simon of the Minnesota connection. “They are some folks who I’ve known for years who are exiting the industry, and it was just a good fit for us.”
Simon says his company has no plans to make changes at the park, which has an occupancy rate of about 98% at present and was built in the early 1980s
“Our plan is just to own and operate it,” he says. “We’ve been in the business for quite awhile and we’re happy to have picked up another property in the area. We love Baton Rouge.”
—Steve Sanoski
