On November 17, 2018, the News and Record's Richard M. Barron wrote "MAN AT THE TOP
Greensboro developer Roy Carroll oversees an empire".
Barron writes "The plain-spoken Carroll uses a personal touch to keep his $2.4 billion company running" and "Carroll owns a company worth $2.4 billion in existing properties and planned projects, a private jet, boat, Ferraris, downtown penthouse and homes on the coast and in Florida".
On February 2, 2018, Business North Carolina's Mark Tosczak wrote "ROY CARROLL II BUILDS AN EMPIRE OF ‘STICKS AND BRICKS’", which states "Carroll estimates his portfolio has a market value of $3.5 billion, including $2.3 billion in completed apartments, mixed-use projects, self-storage facilities and raw land. He says he carries debt roughly equal to about half of his portfolio, which stretches across the Southeast to Texas."
There are two different numbers quoted by Mr. Carroll within the same year.
Roy told Tosczak his portfolio's "market value is $3.5 billion, with "debt roughly equal to about half", which would come out to about $1.75 billion
Barron's account doesn't mention debt, but says "Carroll's $2.4 billion company".
If Roy owns a company worth $2.4 billion, and his debt is $1.75 billion, he's 'only' worth $2.4 - $1.75 = $650 million, or $3.5 - $1.75 = $1.75 billion.
Superyacht Fan puts "Roy Carroll’s net worth is estimated at more than USD 500 million. Some sources even mention a US $1 billion net worth."
Of Center Pointe's debt, Richard Barron wrote "Carroll asked his chief financial officer if the company had enough money to pay off the $22 million. He did, taking money that most developers would hold back for other projects and paying off Center Pointe.
“If you had a room full of Harvard MBAs, they would tell you to keep your powder dry for that time when you’re coming out the backside of the recession because that’s when you make your money on real estate,” Carroll said. “You go out and you shop with that $22 million.”
Carroll paid off First Horizon, Carolina Bank and High Point Bank, but he was surprised by the nonchalant response.
“They said, ‘OK,’ ” Carroll recalled. “I’m, like, really? That’s all I get? I mean, you’ve got all these other condo projects and people are giving them back to you and I’m sitting here telling you I’m going to pay you off."
Mark Tosczak wrote "On Dec. 1, 2009, Roy Carroll contemplated the $22 million he still owed to three banks for Center Pointe, a signature redevelopment project in downtown Greensboro...", and "While proceeds from condo sales had whittled Carroll’s $33 million project loan, he still owed $22 million, with the loan due for refinancing.
“So that morning,” Carroll says, “I’m like, ‘You know, I think I’m just going to pay that loan off, that $22 million.’”
If Mr. Carroll was in a bind on a specific project, with what was likely large amounts of equity lines available on other debt financing instruments elsewhere within his portfolio, the story of his paying off the Center Pointe debt appears to be something of a farce, especially the way Richard Barron left out his debt load relative to the total size of his portfolio.
Both articles cite Robbie Perkins and High Point University President Nido Qubein as character witnesses, while both do business with Carroll.
The Rhino Times articles with Roy at the top of the money list can't be found.
"According to the U.S. Bureau of Labor Statistics, prices for rent of primary residence were 73.33% higher in 2018 versus 2000 (a $733.26 difference in value).
Between 2000 and 2018: Rent experienced an average inflation rate of 3.10% per year. This rate of change indicates significant inflation. In other words, rent costing $1,000 in the year 2000 would cost $1,733.26 in 2018 for an equivalent purchase."
Neither article mentions landlords like Roy Carroll have taken advantage of rents rising significantly since the last financial crises, and how low interest rates not available to most subsidized Roy's ascent into the 1% class.
Mayor Nancy Vaughan, Justin Outling, Marikay Abuzuaiter, Yvonne Johnson, Robbie Perkins, Marlene Sanford and Roy Carroll among others, made rentals in Greensboro less safe for profit and power
Robbie Perkins worked/funded/led the effort to eliminate local rental inspections state wide via Roy Carroll and other's funding and membership in TREBIC, all of whom are also partially responsible for the deaths of 5 kids on Summit Avenue
What Richard Barron didn't mention in his News and Record article on Greensboro, North Carolina being the 7th largest renter eviction city in the nation, compared to the very media's often comparison; Greenville, South Carolina
https://greensboroperformingarts.blogspot.com/2018/05/what-richard-barron-didnt-mention-in.html
On the Rhino Times Greensboro City Council endorsements for Roy Carroll
https://greensboroperformingarts.blogspot.com/2017/11/on-rhino-times-greensboro-city-council.html
On Greensboro's TPAC and some obviously bogus math from advocates who stand to profit
http://greensboroperformingarts.blogspot.com/2015/08/on-greensboros-tpac-and-some-obviously.html
Greensboro council, including Tony Wilkins, voted to increase taxes upon the City's poor to give a parking deck to Tuggle Duggins and Roy Carroll
http://greensboroperformingarts.blogspot.com/2017/09/greensboro-council-to-consider-taxing.html
"North Carolina is no longer classified as a democracy"
http://greensboroperformingarts.blogspot.com/2016/12/north-carolina-is-no-longer-classified.html
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.
Roy Carroll and Robbie Perkins are some of our community's biggest HB2 supporters;
Contributors to State Senator Phil Berger
Robbie Perkins, former mayor of Greensboro
Marty Kotis, developer, Kotis Properties, UNC Board of Governors
Roy Carroll, developer, The Carroll Companies
Vanessa Carroll, wife of developer Roy Carroll
Contributors to State Senator John Faircloth
Nido Qubein, President High Point University
Roy Carroll, developer, The Carroll Companies
Robbie Perkins, former mayor of Greensboro
Contributors to State Senator Trudy Wade
Zack Matheny, President, Downtown Greensboro Incorporated
Marty Kotis, developer, Kotis Properties, UNC Board of Governors
Roy Carroll, Carroll Companies
Robbie Perkins, former mayor of Greensboro
Contributors to State House Representative John Hardister
Robbie Perkins, former mayor of Greensboro
Marty Kotis, developer, Kotis Properties, UNC Board of Governors
https://greensboroperformingarts.blogspot.com/2017/10/so-what-have-you-done-allen-johnson.html
Greensboro council voted to increase taxes upon the City's poor to give a parking deck to Tuggle Duggins and Roy Carroll
https://greensboroperformingarts.blogspot.com/2017/09/greensboro-council-to-consider-taxing.html
DGI, Jim Westmoreland, Nancy Vaughan, Zack Matheny, Tuggle Duggans, Roy Carroll and the Triad Good Government PAC
http://greensboroperformingarts.blogspot.com/2015/05/city-of-greensboro-information-request.html
When in doubt, buy a newspaper and buy as many local politicians as possible, by Roy Carroll and John Hammer
http://greensboroperformingarts.blogspot.com/2016/02/when-in-doubt-buy-newspaper-and-buy-as.html
Questions for High Point's City Counsel, BB&T, Nido Quebein and Roy Carroll
http://greensboroperformingarts.blogspot.com/2017/09/questions-for-high-points-city-counsel.html
Rhino Times John Hammer shills for Justin Outling and the rest of Roy Carroll's minions on City Council
http://greensboroperformingarts.blogspot.com/2017/08/rhino-times-john-hammer-shills-for.html
Roy Carroll + PAC = Greensboro City Council = $1,000 for Goldie Wells
http://greensboroperformingarts.blogspot.com/2017/07/roy-carroll-pac-greensboro-city-council.html
Hartzman's prepared statement on John Hammer, Roy Carroll and the Rhino Times, from last night's City Council meeting
http://greensboroperformingarts.blogspot.com/2014/12/hartzmans-prepared-statement-on-john.html
The News and Record's Richard Barron on $2.3 million Greensboro taxpayer dollars for Jim Melvin, Sam Simpson, David Powell, Roy Carroll and friends
http://greensboroperformingarts.blogspot.com/2015/06/the-news-and-records-richard-barron-on.html
RH Barringer, Nido Qubein and Roy Carroll's political contributions to North Carolina Representative John Faircloth, a bigot who voted to discriminate against NC employees
http://greensboroperformingarts.blogspot.com/2016/04/rh-barringer-nido-qubein-and-roy.html
Congratulations Roy Carroll, Tuggle Duggins's Mike Fox and John Hammer.
http://greensboroperformingarts.blogspot.com/2015/06/city-council-give-away-june-16-2015.html
How much did the city spend to get the sewer line installed under I-40 for Roy Carroll's AMEX backup data center project?
http://hartzman.blogspot.com/2014/01/how-much-did-city-spend-to-get-sewer.html
An act of Cowardice by John Hammer for Roy Carroll: "Breaking The Government Monopoly On Inspections"
http://greensboroperformingarts.blogspot.com/2014/12/an-act-of-cowardice-by-john-hammer-for.html
Roy Carroll's Tony Wilkins stealth donation via the Triad Good Government PAC
http://greensboroperformingarts.blogspot.com/2016/02/roy-carrolls-tony-wilkins-stealth.html
Roy Carroll funneling money to Nancy Vaughan via the Triad Good Government PAC
http://greensboroperformingarts.blogspot.com/2016/02/roy-carroll-funneling-money-to-nancy.html
Crony Journalism Personified; Roy Carroll, John Hammer and Mike Barber
http://greensboroperformingarts.blogspot.com/2014/12/crony-journalism-personified-fuck-roy.html
The News and Record's Allen Johnson and Susan Ladd on Trudy Wade's Roy Carroll initiative to lower minority [Democrat] influence on Greensboro's City Council
http://greensboroperformingarts.blogspot.com/2015/02/mash-up-news-and-records-allen-johnson.html
Greensboro developer Roy Carroll oversees an empire".
Barron writes "The plain-spoken Carroll uses a personal touch to keep his $2.4 billion company running" and "Carroll owns a company worth $2.4 billion in existing properties and planned projects, a private jet, boat, Ferraris, downtown penthouse and homes on the coast and in Florida".
On February 2, 2018, Business North Carolina's Mark Tosczak wrote "ROY CARROLL II BUILDS AN EMPIRE OF ‘STICKS AND BRICKS’", which states "Carroll estimates his portfolio has a market value of $3.5 billion, including $2.3 billion in completed apartments, mixed-use projects, self-storage facilities and raw land. He says he carries debt roughly equal to about half of his portfolio, which stretches across the Southeast to Texas."
There are two different numbers quoted by Mr. Carroll within the same year.
Roy told Tosczak his portfolio's "market value is $3.5 billion, with "debt roughly equal to about half", which would come out to about $1.75 billion
Barron's account doesn't mention debt, but says "Carroll's $2.4 billion company".
If Roy owns a company worth $2.4 billion, and his debt is $1.75 billion, he's 'only' worth $2.4 - $1.75 = $650 million, or $3.5 - $1.75 = $1.75 billion.
Superyacht Fan puts "Roy Carroll’s net worth is estimated at more than USD 500 million. Some sources even mention a US $1 billion net worth."
Of Center Pointe's debt, Richard Barron wrote "Carroll asked his chief financial officer if the company had enough money to pay off the $22 million. He did, taking money that most developers would hold back for other projects and paying off Center Pointe.
“If you had a room full of Harvard MBAs, they would tell you to keep your powder dry for that time when you’re coming out the backside of the recession because that’s when you make your money on real estate,” Carroll said. “You go out and you shop with that $22 million.”
Carroll paid off First Horizon, Carolina Bank and High Point Bank, but he was surprised by the nonchalant response.
“They said, ‘OK,’ ” Carroll recalled. “I’m, like, really? That’s all I get? I mean, you’ve got all these other condo projects and people are giving them back to you and I’m sitting here telling you I’m going to pay you off."
Mark Tosczak wrote "On Dec. 1, 2009, Roy Carroll contemplated the $22 million he still owed to three banks for Center Pointe, a signature redevelopment project in downtown Greensboro...", and "While proceeds from condo sales had whittled Carroll’s $33 million project loan, he still owed $22 million, with the loan due for refinancing.
“So that morning,” Carroll says, “I’m like, ‘You know, I think I’m just going to pay that loan off, that $22 million.’”
If Mr. Carroll was in a bind on a specific project, with what was likely large amounts of equity lines available on other debt financing instruments elsewhere within his portfolio, the story of his paying off the Center Pointe debt appears to be something of a farce, especially the way Richard Barron left out his debt load relative to the total size of his portfolio.
Both articles cite Robbie Perkins and High Point University President Nido Qubein as character witnesses, while both do business with Carroll.
The Rhino Times articles with Roy at the top of the money list can't be found.
"According to the U.S. Bureau of Labor Statistics, prices for rent of primary residence were 73.33% higher in 2018 versus 2000 (a $733.26 difference in value).
Between 2000 and 2018: Rent experienced an average inflation rate of 3.10% per year. This rate of change indicates significant inflation. In other words, rent costing $1,000 in the year 2000 would cost $1,733.26 in 2018 for an equivalent purchase."
Neither article mentions landlords like Roy Carroll have taken advantage of rents rising significantly since the last financial crises, and how low interest rates not available to most subsidized Roy's ascent into the 1% class.
Mayor Nancy Vaughan, Justin Outling, Marikay Abuzuaiter, Yvonne Johnson, Robbie Perkins, Marlene Sanford and Roy Carroll among others, made rentals in Greensboro less safe for profit and power
Robbie Perkins worked/funded/led the effort to eliminate local rental inspections state wide via Roy Carroll and other's funding and membership in TREBIC, all of whom are also partially responsible for the deaths of 5 kids on Summit Avenue
Roy has 11,440 apartments
What Richard Barron didn't mention in his News and Record article on Greensboro, North Carolina being the 7th largest renter eviction city in the nation, compared to the very media's often comparison; Greenville, South Carolina
https://greensboroperformingarts.blogspot.com/2018/05/what-richard-barron-didnt-mention-in.html
On the Rhino Times Greensboro City Council endorsements for Roy Carroll
https://greensboroperformingarts.blogspot.com/2017/11/on-rhino-times-greensboro-city-council.html
On Greensboro's TPAC and some obviously bogus math from advocates who stand to profit
http://greensboroperformingarts.blogspot.com/2015/08/on-greensboros-tpac-and-some-obviously.html
Greensboro council, including Tony Wilkins, voted to increase taxes upon the City's poor to give a parking deck to Tuggle Duggins and Roy Carroll
http://greensboroperformingarts.blogspot.com/2017/09/greensboro-council-to-consider-taxing.html
"North Carolina is no longer classified as a democracy"
http://greensboroperformingarts.blogspot.com/2016/12/north-carolina-is-no-longer-classified.html
.
.
Roy Carroll and Robbie Perkins are some of our community's biggest HB2 supporters;
Contributors to State Senator Phil Berger
Robbie Perkins, former mayor of Greensboro
Marty Kotis, developer, Kotis Properties, UNC Board of Governors
Roy Carroll, developer, The Carroll Companies
Vanessa Carroll, wife of developer Roy Carroll
Contributors to State Senator John Faircloth
Nido Qubein, President High Point University
Roy Carroll, developer, The Carroll Companies
Robbie Perkins, former mayor of Greensboro
Contributors to State Senator Trudy Wade
Zack Matheny, President, Downtown Greensboro Incorporated
Marty Kotis, developer, Kotis Properties, UNC Board of Governors
Roy Carroll, Carroll Companies
Robbie Perkins, former mayor of Greensboro
Contributors to State House Representative John Hardister
Robbie Perkins, former mayor of Greensboro
Marty Kotis, developer, Kotis Properties, UNC Board of Governors
https://greensboroperformingarts.blogspot.com/2017/10/so-what-have-you-done-allen-johnson.html
https://greensboroperformingarts.blogspot.com/2017/09/greensboro-council-to-consider-taxing.html
DGI, Jim Westmoreland, Nancy Vaughan, Zack Matheny, Tuggle Duggans, Roy Carroll and the Triad Good Government PAC
http://greensboroperformingarts.blogspot.com/2015/05/city-of-greensboro-information-request.html
When in doubt, buy a newspaper and buy as many local politicians as possible, by Roy Carroll and John Hammer
http://greensboroperformingarts.blogspot.com/2016/02/when-in-doubt-buy-newspaper-and-buy-as.html
Questions for High Point's City Counsel, BB&T, Nido Quebein and Roy Carroll
http://greensboroperformingarts.blogspot.com/2017/09/questions-for-high-points-city-counsel.html
Rhino Times John Hammer shills for Justin Outling and the rest of Roy Carroll's minions on City Council
http://greensboroperformingarts.blogspot.com/2017/08/rhino-times-john-hammer-shills-for.html
Roy Carroll + PAC = Greensboro City Council = $1,000 for Goldie Wells
http://greensboroperformingarts.blogspot.com/2017/07/roy-carroll-pac-greensboro-city-council.html
Hartzman's prepared statement on John Hammer, Roy Carroll and the Rhino Times, from last night's City Council meeting
http://greensboroperformingarts.blogspot.com/2014/12/hartzmans-prepared-statement-on-john.html
The News and Record's Richard Barron on $2.3 million Greensboro taxpayer dollars for Jim Melvin, Sam Simpson, David Powell, Roy Carroll and friends
http://greensboroperformingarts.blogspot.com/2015/06/the-news-and-records-richard-barron-on.html
RH Barringer, Nido Qubein and Roy Carroll's political contributions to North Carolina Representative John Faircloth, a bigot who voted to discriminate against NC employees
http://greensboroperformingarts.blogspot.com/2016/04/rh-barringer-nido-qubein-and-roy.html
Congratulations Roy Carroll, Tuggle Duggins's Mike Fox and John Hammer.
http://greensboroperformingarts.blogspot.com/2015/06/city-council-give-away-june-16-2015.html
How much did the city spend to get the sewer line installed under I-40 for Roy Carroll's AMEX backup data center project?
http://hartzman.blogspot.com/2014/01/how-much-did-city-spend-to-get-sewer.html
An act of Cowardice by John Hammer for Roy Carroll: "Breaking The Government Monopoly On Inspections"
http://greensboroperformingarts.blogspot.com/2014/12/an-act-of-cowardice-by-john-hammer-for.html
Roy Carroll's Tony Wilkins stealth donation via the Triad Good Government PAC
http://greensboroperformingarts.blogspot.com/2016/02/roy-carrolls-tony-wilkins-stealth.html
Roy Carroll funneling money to Nancy Vaughan via the Triad Good Government PAC
http://greensboroperformingarts.blogspot.com/2016/02/roy-carroll-funneling-money-to-nancy.html
Crony Journalism Personified; Roy Carroll, John Hammer and Mike Barber
http://greensboroperformingarts.blogspot.com/2014/12/crony-journalism-personified-fuck-roy.html
The News and Record's Allen Johnson and Susan Ladd on Trudy Wade's Roy Carroll initiative to lower minority [Democrat] influence on Greensboro's City Council
http://greensboroperformingarts.blogspot.com/2015/02/mash-up-news-and-records-allen-johnson.html
