A land purchase-leaseback and leasehold mortgage loan of $9.5 million has been arranged for six three-story, 21,000-square-foot office buildings to be built at 3615 Ruffin Road in the Kearny Mesa area of San Diego.
The financing was arranged with E. F. Hutton Life Insurance Co. by John Burnham & Co. of San Diego for Norwich-Van Raaphorst Properties, the developer. Construction is scheduled to begin in mid-March.
