The disclosure describes equipment for magnetic annealing of a substrate, the equipment including: an anneal chamber configured to heat and cool a substrate held at a soak location along a first direction in the anneal chamber, the anneal chamber including: a heater, a cooler, and a substrate lifter including a substrate holder, where the substrate holder is configured to support a substrate oriented such that the first direction is perpendicular to a major surface of the substrate; and a magnet assembly configured to establish a homogeneous zone in the anneal chamber, the soak location being within the homogeneous zone, the homogeneous zone including a region of magnetic field.