PALO ALTO, Calif. (KGO) -- Stanford University is digging deep to provide housing for faculty and staff members.
The university just spent $130 million to buy Colonnade Los Altos, 167-unit apartment complex on El Camino Real.
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The deal should help with the dearth and expense of housing along the peninsula, and help Stanford retain faculty and staffers.
The university didn't spare any expense, paying $45 million over the buildings estimated value.