---
schema_version: "secwatch.filing_event.v1"
accession: "0001206774-26-000284"
form_type: "8-K"
ticker: "MAYS"
cik: "0000054187"
company_name: "MAYS J W INC"
filed_at: "2026-05-15T20:16:31+00:00"
generated_at: "2026-05-15T21:15:27.734505+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# J.W. Mays enters $8M mortgage loan with Beacon Bank for Fishkill property expansion

## Summary
- 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.

## SEC filing metadata
- accession: 0001206774-26-000284
- form_type: 8-K
- ticker: MAYS
- cik: 0000054187
- company_name: MAYS J W INC
- filed_at: 2026-05-15T20:16:31+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/54187/000120677426000284/0001206774-26-000284-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/54187/000120677426000284/mays4638551-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001206774-26-000284
- JSON: https://secwatch.observer/filing/0001206774-26-000284.json
- Plain text: https://secwatch.observer/filing/0001206774-26-000284.txt

## Key facts
- Debt Financings
  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
  source text: 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,
  evidence_url: https://www.sec.gov/Archives/edgar/data/54187/000120677426000284/0001206774-26-000284-index.htm
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/54187/000120677426000284/0001206774-26-000284-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.