Rogers Memory Care LLC, an entity controlled by Constant Care Management Co. of Plano, Texas, recently picked up a construction mortgage from Fayetteville-chartered Arvest Bank for $5.8 million.
The mortgage is tied to a 5.06-acre lot at the northwest corner of South Pinnacle Hills Parkway and West Pleasant Grove Road.
CCMC bought the lot from Great Southern Bank for $655,000, with plans to build a 36-bed, 28,000-SF facility called Grand Brook Memory Care of Rogers.
Arrive Architecture Group of Bedford, Texas, is handling the design work and CCMC’s in-house construction division is the contractor.
The project has a scheduled completion date of summer 2017.
CCMC owns three similar communities in Texas — Garland, McKinney and Grapevine. The company will open another in Allen later... [ MORE ]