BOSTON— Pivotal Manufacturing Partners and Declaration Partners LP have acquired the 165,000-square-foot global headquarters of Commonwealth Fusion Systems (CFS) for $74 million, the companies announced Wednesday.
The high-tech advanced manufacturing facility, located at the CFS campus in Devens, Massachusetts, will continue to serve as the company’s critical magnet manufacturing hub and corporate headquarters under a long-term lease. Goldman Sachs provided financing for the transaction.
CFS is the world’s leading private fusion energy company, backed by global investors including Google, Nvidia, Temasek, and Mitsubishi. The company is advancing rapidly toward commercializing fusion power as a viable, carbon-free energy source. In its most recent funding round, CFS secured $863 million, alongside a landmark offtake agreement with Google for its first commercial fusion power plant in Virginia.
Originally developed in 2022 by King Street Properties and The Baupost Group, the Boston-area facility anchors CFS’s Devens campus and represents a mission-critical asset for the company’s advanced manufacturing and R&D operations.
“We are proud to acquire this state-of-the-art facility with support from our partners at Declaration and invest behind the transformative work underway at CFS,” said David Robbins, Managing Partner of Pivotal Manufacturing Partners. “As AI and robotics reshape industrial supply chains, we’re excited to own and operate real estate tailored for this next-generation industrial renaissance.”
Declaration Partners, a private investment firm with $2.2 billion in assets under management and backed by the family office of David M. Rubenstein, is partnering with Pivotal on the acquisition.
“We’re excited to support CFS’s mission by investing in this best-in-class building with a long-term lease and a highly innovative tenant,” said David Rabin, Partner at Declaration.
The transaction is a milestone for Pivotal, which is scaling a platform focused on power-intensive, advanced manufacturing real estate—a sector seeing rapid demand amid reshoring, supply chain transformation, and technology-driven industrial growth.
Pivotal is a real estate investment platform founded by David Robbins to acquire, develop, and manage industrial properties supporting the resurgence of U.S. advanced manufacturing. Learn more at pivotalmfg.com
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Declaration is a private investment firm anchored by the family office of David M. Rubenstein. It invests across real estate, private companies, and GP stakes with offices in New York and Washington, D.C.
