**DML Capital Acquires 15-Story Houston Office Tower**
Just under two years after Novel Office acquired the 227,064-square-foot office building at 3555 Timmons Lane in Houston’s Greenway-Upper Kirby area, the property has changed hands once again. The latest buyer is Houston-based DML Capital.
Following its acquisition, Novel Office invested $1.4 million in upgrades to the 15-story tower. These improvements helped boost occupancy from 55% to 95%, attracting 17 new tenants during that time. The building was originally constructed in 1982 and underwent a significant renovation in 2017 prior to the most recent updates by Novel Office.
JLL Capital Markets facilitated the transaction by securing fixed-rate acquisition financing for DML. The deal was led by Michael Johnson and Michael King, with additional support from Scot Sarlin and James Lovell.
The tower at 3555 Timmons Lane stands as a prime example of how strategic investments and renovations can significantly enhance a building’s tenant appeal and market value.
