MAYS J W INC (MAYS): debt financing — J.W. Mays enters $8M mortgage loan with Beacon Bank for Fishkill property expansion

MAYS J W INC

Principal $8M; $2M advanced at closing; secured by first lien on Fishkill, NY property.
Advance period interest: WSJ Prime + 100 bps, floor 7.25%; amortization period thereafter.
Proceeds used to construct expansion rentable space for an existing tenant at Fishkill.
Balloon payment due May 1, 2036; amortized over 25 years but matures in 10 years.
Mandated $1M minimum combined operating/tenant security account balance with lender.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

MAYS J W INC incurred credit facility of $8,000,000 with Beacon Bank & Trust at WSJ Prime Rate plus 100 basis points, subject to a Minimum Interest Rate of 7.25 maturing May 1, 2036.

Instrument: credit facility
Principal: $8,000,000
Counterparty: Beacon Bank & Trust
Rate: WSJ Prime Rate plus 100 basis points, subject to a Minimum Interest Rate of 7.25
Maturity: May 1, 2036
Event: incurrence

Exact text from the filing

a first lien mortgage on the Company’s property at Fishkill, New York on Route 9 at Interstate Highway 84 (the “ Fishkill Property ”). The Company borrowed a principal amount of $8,000,000, or such lesser sum as shall have been advanced pursuant to that certain Non-Revolving Line of Credit and Building Loan Mortgage Note between the Company and Lender, dated May 11,

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MAYS J W INC entered into loan agreement with Beacon Bank & Trust valued at $8,000,000 (effective 2026-05-12).

Action: entry
Agreement: credit facility
Counterparty: Beacon Bank & Trust
Value: $8,000,000
Effective: 2026-05-12

Exact text from the filing

On May 12, 2026, J.W. Mays, Inc. (the " Company ") entered into a loan agreement with Beacon Bank & Trust, a Massachusetts Trust Company (the “ Lender ”) wherein the Company has obtained a loan (the “ Loan ”) secured by a first lien mortgage on the Company’s property at Fishkill, New York

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MAYS J W INC filing history →

Source: SEC EDGAR

accession 0001206774-26-000284

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