• J.W. Mays entered loan agreement May 12, 2026 with Beacon Bank & Trust for up to USD 8 million, secured by first-lien mortgage on Fishkill, New York property.
• Borrowings during May 12, 2026–May 11, 2027 carry floating rate set at WSJ Prime Rate plus 1% with 7.25% floor; company drew about USD 2 million at closing.
• From May 12, 2027, balance shifts to amortizing structure over 25 years through May 1, 2036, with rate reset off Federal Home Loan Bank of Boston five-year advance index plus 2.25% with 6% floor.
• Proceeds earmarked for expansion of rentable space at Fishkill site for existing tenant; company expects to draw full USD 8 million before project completion.
• Loan requires USD 1 million minimum deposit balances at lender; USD 350,000 interest reserve funded at closing, replenishment required below USD 75,000.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. J.W. Mays Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001206774-26-000284), on May 15, 2026, and is solely responsible for the information contained therein.