An amount of $52 million has been arranged by Cushman & Wakefield to finance the purchase of a facility on Hospital Road in Devens.
This is an advanced manufacturing facility which spans 165,335 square feet. The borrowers, Pivotal Manufacturing Partners and Declaration Partners, were able to secure this financing with a loan of five years at a fixed rate.
News of such acquisitions and any ramifications for the community can be made known with flyer printing.
This property is the primary magnet manufacturing facility and global headquarters for Commonwealth Fusion Systems (CFS). The company is a major producer of nuclear fusion power. The property has columns spaced 40 feet by 60 feet, a clear height of 32 feet, one drive-in door, three tailboard dock doors, and 283 parking spaces. The property offers convenient access to Interstate 495, Route 2, and the MBTA commuter rail.
John Alascio, Rob Borden, Alex Lapidus, Alan Blank, and Heather Brown of the Equity, Debt, and Structured Finance team of Cushman & Wakefield represented the borrowers in the transaction.
Alascio expressed pleasure in arranging this acquisition financing for this facility, which is state-of-the art, for Commonwealth Fusion Systems. He added that Declaration and Pivotal are highly rated in sponsorship and he said that they are proud to have been able to support them with a solution for financing that enables them to achieve their long-term goals.
