A ‘monster’ of an event is underway

Jose F. Moreno/Courier-Post file

The 14th Monster-Mania Con will be at the Crowne Plaza Hotel this weekend, running today through Sunday.

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Flood watch issued for much of South Jersey

Courier-Post file

The National Weather Service has issued a flood watch advisory for Burlington, Gloucester and Camden counties, as well as much of the surrounding area, through Sunday morning.

The weather service notes rainfall of 2 to 4 inches in the area, with local amounts of 5 inches possible in some areas.

Smaller streams are likely to flood first, with larger waterways likely to come after, according to the report.

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Don’t forget to spring forward

Good evening sunshine, America says hello, you light up our evenings, we light charcoal below.

That right folks, it's time to fire up the old grill, Daylight-saving time is returning with that extra hour of sunshine after work.

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Mall owner receives new financing

The cash-strapped owner of Cherry Hill Mall and other area shopping centers has closed on a secured credit facility with term loans of $520 million and a $150 million revolving line of credit with its bankers.

Six months in the making, the deal with a consortium of Wells Fargo and more than a dozen other banks soothes fears concerning the Pennsylvania Real Estate Investment Trust's ability to pay its bills.

PREIT announced the package after the close of business Thursday, but before the company's widely anticipated earnings report today.

Read the rest of this article at: Mall owner receives new financing | courierpostonline.com | Courier-Post.

Mall owner receives new financing

Posted via CourierPostOnline.com:

The cash-strapped owner of Cherry Hill Mall and other area shopping centers has closed on a secured credit facility with term loans of $520 million and a $150 million revolving line of credit with its bankers.

Six months in the making, the deal with a consortium of Wells Fargo and more than a dozen other banks soothes fears concerning the Pennsylvania Real Estate Investment Trust's ability to pay its bills.

PREIT announced the package after the close of business Thursday, but before the company's widely anticipated earnings report today.

Analysts and investors have been watching PREIT, which is more than $2.5 billion in debt and had drawn down most of its credit. The company spent $240 million on its transformation at Cherry Hill.

The new credit facility for PREIT has a term of three years and is secured by mortgages on 22 properties.

Ronald Rubin, CEO, said the deal enables PREIT to keep growing.

The money will pay down the previous $500 million unsecured revolving credit facility and a $170 million unsecured term loan that were scheduled to mature on March 20.

In addition to Cherry Hill, PREIT owns Moorestown Mall, Voorhees Town Center and more than 45 other shopping centers in the Mid-Atlantic states.

Reach Eileen Smith at (856) 486-2444 or esmith@courierpostonline.com

Haddonfield Road pot holes covered

Pot holes at 50 Haddonfield Road, which had been reported two months ago, are now covered by large metal slates.

The issue had been reported by Kevin, who said:

"Crumbling pavement and potholes on haddonfield Rd. in Cherry Hill. The problem is in front of the Toyota dealership prior to the Church Rd. Intersection."

Read more about this issue, and view the photo gallery, after the jump...

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Fast way to see Easter Bunny

Courier-Post file

The Cherry Hill Mall is offering the Bunny Fast Pass this Easter season.

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Photos: Health club lays down turf, plans for speed school

The Cherry Hill Health & Racquet Club recently finished converting one of its tennis courts into what will become a Parisi Speed School.

The approximately 7,800 square foot space has a turf area that replicates a football field with yard markers and there are four lanes of straight track for sprinting.

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Former Cherry Hill building official sentenced to 22 months in jail on bribery charges

Anthony Saccomanno, the former top building inspector for Cherry Hill, has been sentenced to 22 months in prison on federal bribery charges.

Saccomanno will also be on probation for three years and have to pay a $20,000 fine.

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Cherry Hill Mall gets national recognition

John Ziomek/Courier-Post

The International Council of Shopping Centers, Inc. has awarded Cherry Hill Mall a Silver U.S. MAXI Award, which recognizes premier marketing, community outreach, sales promotions and visual merchandising programs.

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#SJTweetUp tonight at restaurant

Al Schell/Courier-Post

Chef Mark Smith of Collingswood's Tortilla Press restaurant and Pennsauken's Tortilla Press Cantina will be hosting his third "South Jersey Tweet-Up" this evening.

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Platt: Aide who lied deserves 2nd chance

Al Schell/Courier-Post

By Jane Roh, Courier-Post Staff

Council members approved a revised budget Monday night for fiscal year 2010 of $63.9 million, reflecting a $600,000 increase.

Also at Monday's meeting, officials lauded the township's snow-removal efforts and Mayor Bernie Platt said a top aide who was caught in a lie "deserves an opportunity to redeem himself."

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Acme president announces departure

By Eileen Stilwell, Courier-Post Staff

Judy Spires, a Cherry Hill native who rose from grocery clerk to president of Acme Markets, announced her resignation Monday, effective Friday.

Spires is leaving for another company, but will not disclose where until next week, said a spokeswoman for SUPERVALU, the parent company of Acme.

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Cherry Hill man faces auto-related charges

A Cherry Hill man is accused of driving his car toward a policeman at during a late-night incident in Trenton.

Edward Demski, 44, was charged with driving while intoxicated, assault with auto and other offenses after an incident that allegedly began around 1 a.m. Monday.

Police said Demski, who had stopped to allow a man to enter his car on Walnut Avenue, backed up toward an officer who was approaching on foot. The officer was not injured.

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Video: High school’s Wing Bowl

Cherry Hill High School Eat held a Wing Bowl in February to raise money for Haitian relief efforts.

The school also welcomed guest Bill "El Wingador" Simmons to the event.

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