(Updated with additional information)

Pivotal Manufacturing Partners, a real estate investment platform focused on next-generation advanced manufacturing, and Declaration Partners LP completed the $74-million acquisition of the Commonwealth Fusion Systems (CFS) global headquarters building at 117 Hospital Dr. in Devens, MA. Goldman Sachs provided financing.

Originally developed in 2022 by King Street Properties and The Baupost Group, the 165,000-square-foot facility anchors the CFS Devens campus and houses its critical magnet manufacturing operations and global headquarters. Pivotal will manage the facility in partnership with Declaration, an investment firm with $2.2 billion in assets anchored by the family office of David M. Rubenstein.

“We are confident in the strategic value of this real estate – an asset benefiting from significant, market-leading existing infrastructure and heavy power access,” said David Robbins, managing partner of Pivotal. “As artificial intelligence and robotics continue to penetrate industrial supply chains driving new requirements for infrastructure, we are excited to own and operate this trophy real estate asset with specifications tailored to this next-generation industrial renaissance.”

A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Alan Blank, Alex Lapidus, Rob Borden and Heather Brown arranged $52.8 million in acquisition financing from Goldman Sachs.