U.S. distributed antenna system (DAS) and Wi-Fi provider Boingo Wireless has been selected by Foulger-Pratt, a real estate investment and development firm, to launch managed Wi-Fi services at three luxury multifamily properties in Washington, D.C.
Under the terms of the deal, Boingo-managed wireless networks will bring residents at Beckert’s Park, ONE501 and Press House connectivity inside apartments and throughout all common areas.
“Amid COVID-19 we’ve realized it’s critical to have wireless connectivity that you can trust and always access. Partnering with Boingo—at our new Beckert’s Park, ONE501 and Press House properties—provides secure connectivity property-wide, and notably in co-working areas for those juggling the demands of working from home,” said Judd Ullom, director of development at Foulger-Pratt. “With Boingo, residents simply log in and receive Wi-Fi access the day they move in. Boingo makes Wi-Fi easy, fast and secure for our residents and staff.”
Boingo noted that the network is backed by 24/7 customer service and delivers real-time network insights for property managers. Foulger-Pratt’s property management team is utilizing the Boingo network to power a contact-free move in process with mobile applications and smart software to remotely verify tenant identification, electronically sign leases, and allow residents to document unit inspection results in real-time via their smartphone.
Boingo’s connectivity solutions for multifamily housing properties serve over 300,000 residents across more than 2,200 communities. The firm also provides connectivity solutions at airports, stadiums, military bases, convention centers and commercial properties.
Earlier this month, Boingo Wireless agreed to be acquired by an affiliate of Digital Colony Management in a deal worth $854 million.
The transaction will take Boingo from being a public company to being a privately held firm.
Under the terms of the deal, which had been unanimously approved by Boingo’s board, Digital Colony will acquire all the outstanding shares of Boingo common stock for $14.00 per share in cash through a merger, in a transaction valued at about $854 million, including the assumption of $199 million of Boingo’s net debt obligations.
Digital Colony is a digital infrastructure investment firm with over US$30 billion in assets under management. The firm has its headquarters in Boca Raton, with offices in New York, Los Angeles, London and Singapore.
The transaction is expected to close in the second quarter of 2021.