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Exclusive Palo Alto Girls School Borrows $106 Million
- Castilleja looks to add enrollment with tech-forward makeover
- First muni bond sale will fund upgrade from ‘60s-era buildings
Castilleja officials plan to renovate about 75% of the independent institution’s six-acre campus, plus construct new buildings over the next four years.
Photographer: Charly Triballeau/AFP/Getty ImagesCastilleja School Foundation is borrowing in the municipal bond market for the first time, receiving $106 million to upgrade the campus of the 127-year-old private school for girls and young women.
The bonds, issued through the California Enterprise Development Authority, are secured as a general obligation of the school and will be its only outstanding debt.