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Hellenic College is the latest local higher education institution seeking to stabilize its finances through sale of valuable real estate.

The Brookline private college and seminary has agreed to sell up to 25 acres of its campus for up to $30 million, according to a report. The parcels are located on Prince Street on the eastern portion of the campus in Boston’s Jamaica Plain.

The potential buyer is Lyme Timber Company and the land would be used for conservation. A vote on the sale is scheduled for Dec. 9, the National Herald reported.

The sale would “strengthen its financial and operational foundations while setting the institution on a path toward sustainable growth,” according to an internal letter to the school’s board obtained by the publication.

Lyme Timber Company would acquire the property and transfer it to The Trustees of Reservations as permanent conservation land, the documents state.

Officially named The Holy Cross Greek Orthodox School of Theology, the college has previously considered selling off parts of the campus but ultimately rejected a sale, The National Herald reported.

Messages were left with Hellenic College and Lyme Timber Company seeking comment.

Lyme Properties, an affiliate of Lyme Timber Company, played a major role in the emergence of Kendall Square as a life science cluster in the 1990s. The company hired David Clem to oversee lab developments in East Cambridge and diversify beyond its traditional timber and conservation focus, before selling its Cambridge portfolio in 2008

Hellenic College was founded in Pomfret, Connecticut before moving to the Brookline-Boston location in 1947.