The resident theatre was founded by BU in 1982, and while Huntington went nominally independent in 1986, the university has continued to allow free use of the 890-seat BU Theatre at 264 Huntington Avenue.

That partnership is coming to an end, according to a joint statement issued Oct. 7. "It has become clear that BU and the Huntington both have needs that the partnership can no longer meet,” the statement read. “Neither BU nor the Huntington have the resources it will take to renovate and modernize the BU Theatre within the constraints of our current partnership."

No date was given for the dissolution of the partnership. The Huntington also presents shows at the Stanford Calderwood Pavilion at the Boston Center for the Arts. Confederacy of Dunces, starring Nick Offerman, is scheduled to start performances at the Boston University Theatre Nov. 11.

A spokesperson for the theatre told the Globe that Huntington is hoping to find potential partners or buyers who would purchase the theatre and allow the troupe to continue producing shows there.

The Huntington Theatre Company won the special Tony Award for Outstanding Regional Theatre in 2013. Among its many productions that have transferred to New York are Lydia R. Diamond’s Stick Fly on Broadway, and Stephen Karam’s Off-Broadway Sons of the Prophet, which was named a finalist for the 2012 Pulitzer Prize. Though BU wants to sell the building as soon as possible, the statement added, “BU will require any buyer to guarantee the Huntington’s use of the facility through June 30, 2017. This guarantee provides a reasonable amount of time for the University and the Huntington to plan and implement our next steps."