JLL Capital Markets closes sale and financing of stabilized office asset in Northwest Austin

• JLL Capital Markets closed the sale and financing of Lakeside at Quarry Oaks, an office building in northwest Austin
• The property is near the recently announced UT Dell Medical Center
• DML Capital bought the property from Brick Row Holdings
• A life insurance company provided DML’s acquisition financing

AUSTIN, Oct. 28, 2026 –  JLL Capital Markets announced today that it closed the sale and arranged acquisition financing for Lakeside at Quarry Oaks, a 123,272-square-foot office building in the Quarry micro-market of northwest Austin.

JLL marketed the property for seller Brick Row Holdings and procured the buyer, Texas-based private equity firm DML Capital. JLL also arranged DML’s acquisition loan with a life insurance company.

Lakeside at Quarry Oaks sits at the intersection of Braker Lane and Seton Center Parkway, in immediate proximity to the 300-acre UT Dell Medical Center, which is slated to open in 2030.

The three-story building was 98% leased at the time of closing. Amenities include an underground parking garage and direct access to Quarry Lake’s one-mile waterfront trail.

JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Ryan Stevens and Drew Fuller.

JLL’s Debt Advisory team representing DML Capital was led by Managing Directors Kyle Spencer and Michael Johnson and Senior Director Michael King.

“One of Lakeside’s leading tenants is HeartFlow, a medical technology company that uses artificial intelligence to transform the diagnosis and management of coronary artery disease,” said Stevens. “HeartFlow’s arrival may predate the UT Dell Medical Center announcement, but it is a very good sign of things to come.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom. 

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of September 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com. 

Brick Row is an Austin-based real estate investment and development firm founded in 2024. Brick Row focuses on opportunistic office and mixed-use investments across the Sun Belt.

DML Capital is a private equity firm headquartered in Sugar Land, Texas, founded in 2012. The firm specializes in the development of retail centers and the strategic acquisition of value-added retail and office properties, currently managing over 2 million square feet of space with assets under management exceeding $600 million.

DML Capital’s investment philosophy emphasizes the identification and acquisition of assets that present significant opportunities for value enhancement and turnaround. The firm employs a disciplined approach to structuring initial valuations of acquired properties, ensuring they deliver stable, long-term returns while effectively navigating market fluctuations.

With a strong commitment to aligning interests with equity investors, DML Capital consistently achieves reliable returns across diverse market conditions. For more information or inquiries, please visit their website at www.dml.capital.