Developed in 2016, 1402 Monterey Hwy (the “Property”) is a 35-classroom, purpose-built educational property that boasts a layout capable of housing 1,230 students. Located on 3.38 acres in Downtown San Jose, 1402 Monterey Hwy conveniently attracts students and staff from the greater San Jose area and adjacent communities. There are two buildings located on the Property - the main education building is 76,750 square feet and the gymnasium/multi-purpose building is an additional 9,935 square feet for a total of 86,695 square feet. The gymnasium/multi-purpose building includes locker rooms, a dance and weight room facility, as well as abundant storage spaces. The balance of the Property encompasses an outdoor recreation/assembly area, parking for 188 cars, and a pick-up/drop-off lane. The buildings sit on a 50-year ground-lease with the San Jose Unified School District (SJUSD) through February 1st, 2067, at a prepaid rate of $1 per year. In lieu of ground-lease payments, the purchase price shall reflect the remaining bond balance used for the development of the buildings and outdoor facilities. Acquisition of the fee ownership may be possible pursuant to an option contained in the governing ground lease. The Property is being sold pursuant to the existing authorities of a court appointed receiver and sale will be subject to final court approval.