PHH advises SmartUnit NV on its market entry in Austria

29. July 2025

The Belgian investment company SmartUnit NV is entering the Austrian logistics market and the Vienna North I and Vienna North II logistics parks in Stockerau through a joint venture with logistics specialist Flexiparks. PHH partner Julia Fritz advised SmartUnit NV on structuring the joint venture and purchasing the company shares.

Flexiparks’ two successful projects are already up and running in Stockerau, north of Vienna: Vienna North I, with an area of 4,400 m², is already finished and fully leased, and Vienna North II will add another 5,700 m², with around 30 percent of the space already pre-leased. The joint venture between SmartUnit NV and Flexiparks is intended to drive growth and enable the construction of further logistics parks in Austria. While Flexiparks will be responsible for project development, asset management, and leasing, SmartUnit NV will contribute its expertise in industrial real estate, take over financing, and thus be a key growth driver. For SmartUnit NV, which has been acquiring, developing, and renovating commercial real estate, known as “SmartUnits,” for companies in Belgium for many years, this marks its entry into the Austrian market and the first step toward a long-term strategic partnership.

PHH partner Julia Fritz advised SmartUnit NV during the negotiations leading up to the conclusion of the joint venture and was responsible in particular for due diligence and drafting the company purchase agreement. “We are delighted to have once again been able to demonstrate our expertise in real estate transactions and to help shape the legal framework for the transaction and the joint future of the parties. We wish SmartUnit and Flexiparks every success in their expansion in Austria,” says Julia Fritz.
Michael Bollen, partner at Laurius, was responsible for the Belgian aspects of the transnational transaction. Flexiparks was represented by Grama Schwaighofer Vondrak Rechtsanwälte.