secwatch.observer — SEC 8-K summary
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Issuer:     MAYS J W INC (MAYS)
CIK:        0000054187
Form:       8-K
Filed at:   2026-05-15T20:16:31+00:00
Accession:  0001206774-26-000284
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/54187/000120677426000284/0001206774-26-000284-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/54187/000120677426000284/mays4638551-8k.htm
  HTML page:      https://secwatch.observer/filing/0001206774-26-000284

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