Elauwit Connection Announces 14 New Projects for 4,100+ Units with Two Large Multifamily REITs
Rhea-AI Summary
Elauwit Connection (NASDAQ: ELWT) announced contract awards to deliver turnkey broadband and managed WiFi for 14 additional multifamily communities, covering more than 4,100 units across Arkansas, Georgia, Oklahoma, Texas and Virginia. The properties are owned by two large multifamily REITs that collectively hold hundreds of communities and hundreds of thousands of units in multiple states and Washington, D.C.
According to Elauwit, the awards support REIT owners seeking to control their own networks and resident experience while using managed service providers for operations. Construction on the first projects is expected to begin promptly, with all properties targeted for completion by the end of 2026.
Positive
- 14 new community awards covering more than 4,100 units
- Awards come from two large multifamily REIT owners
- Projects span five states, broadening geographic footprint
- All awarded properties targeted for completion by end of 2026
Negative
- None.
News Explained
The release discloses no cash amount, dilution, or ownership change for the 14 project awards, so it establishes additional contracted work but not a measurable financial or ownership effect for existing common holders.
News Market Reaction – ELWT
On the day this news was published, ELWT gained 2.18%, reflecting a moderate positive market reaction. Argus tracked a peak move of +2.1% during that session. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $1M to the company's valuation, bringing the market cap to $48.79M at that time.
Data tracked by StockTitan Argus on the day of publication.
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Columbia, South Carolina--(Newsfile Corp. - July 23, 2026) - Elauwit Connection, Inc. (NASDAQ: ELWT) ("Elauwit" or the "Company"), a national managed services provider of turnkey broadband and property-wide WiFi networks serving multifamily, student housing, and senior living communities, today announced that it has secured awards for 14 additional multi-family communities totaling more than 4,100 units in Arkansas, Georgia, Oklahoma, Texas and Virginia.
The award covers properties owned by two industry-leading multifamily real estate investment trusts (REITs). Combined, these REITs own hundreds of communities and hundreds of thousands of units across multiple states and the District of Columbia.
"We are excited to announce the continued expansion of our business, this time through multi-property awards with two industry leading REITs, both known as premier multifamily community owners in North America," said Dan McDonough, Executive Chairman. "We believe these awards reflect a growing interest among larger property managers in owning their own networks, and the economic benefits that go with them, while relying on managed service providers such as Elauwit to ensure top-tier service and performance."
"In particular, then owners behind these most recent awards have demonstrated a commitment to providing a top-tier resident experience that aligns to the premium nature of the properties. As part of that commitment, they have focused on managed WiFi solutions that can offer outstanding speed, excellent customer support and lower cost to residents."
Elauwit expects to commence construction on the first of these projects promptly, with anticipated completion of all properties on this award by the end of 2026.
About Elauwit Connection (NASDAQ: ELWT)
Elauwit is a publicly traded connectivity MSP dedicated to rental communities, including multifamily properties, student housing, and senior living. Elauwit designs, builds, and operates managed networks, backed by a service model that treats property teams and residents like a relationship, not an account number.
With dependable connections, exceptional resident support, and no-upfront-cost options, Elauwit helps owners deliver premium connectivity as a competitive advantage, supporting new revenue, resident retention and increased asset value.
Visit: www.elauwit.com
Forward-Looking Statements
This press release contains forward-looking statements, including with respect to the Company's growth strategies and its performance as a public company. The words "continue" "intend," and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including market and other conditions and the Company's ability to achieve its growth objectives, and other factors set forth in the Company's filings with the SEC, including the Company's annual report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 31, 2026, and subsequent quarterly reports on Form 10-Q. Actual results might differ materially from those explicit or implicit in the forward-looking statements. The Company undertakes no obligation to update any such forward-looking statements after the date hereof to conform to actual results or changes in expectations, except as required by law.
Media Contact: Katie Hayward Vice President of Marketing sales-pr@elauwit.com
Investor Relations: Matt Kreps Darrow Associates mkreps@darrowir.com +1-214-597-8200
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306198