Shreveport, October 11, 2025
News Summary
The Regions Center in Shreveport, featuring the Regions Tower and Regions Building, is scheduled for auction on October 29, driven by significant financial challenges. Current issues include unpaid utility bills totaling over $366,000, alongside a $38.25 million loan default. Legal actions have escalated, and the building’s owner faces multiple liens. With a reduced occupancy rate of 80%, the fate of this central property remains uncertain as it prepares for the upcoming auction.
Shreveport is facing significant changes as the Regions Center, which includes the prominent Regions Tower and Regions Building, is set to be auctioned due to mounting financial issues. The auction is scheduled for October 29, 2024, and will be handled by the Caddo Sheriff’s Office.
The Regions Center, located in the 300 block of Texas Street, encompasses a 25-story Regions Tower, a 16-story Regions Building, and a parking garage with nearly 1,000 spaces. Current financial difficulties have led to a sequence of disconnection notices from utility companies for unpaid bills, including an upcoming electrical disconnection by SWEPCO on August 26, 2024. Tenants were reportedly unaware that the property was behind on utility payments for over six months.
To address the outstanding balance with SWEPCO, Wilmington Trust National Association, representing the mortgage holder, advanced $420,841.59 to cover the owed amount. However, issues continued to escalate, as CenterPoint Energy also issued a disconnection notice for unpaid water services. Furthermore, the building’s security provider announced plans to vacate due to non-payment.
Financial strain has resulted in legal actions as well, with three local companies—Gene Nims Builders, Storer Services LTD, and Cowtown Materials, Inc.—filing liens against the building’s owners for a total of $56,767 in unpaid services. In response to the deterioration of the situation, Wilmington Trust filed a 420-page lawsuit on September 18, 2024, to place Plaza II Holdings LLC, the building’s owner, into receivership. The court approved this request, appointing Trigild Property Management LLC to manage the property and oversee operational expenses.
The financial troubles stem from a reported $38.25 million loan default, primarily due to non-payment of operating expenses and failure to maintain the property. Outstanding payments include an electric bill of $366,000 owed to SWEPCO and $21,000 to the Shreveport water department across three accounts. The Regions Tower has not only seen financial turmoil but has also experienced a decreased occupancy rate, dropping to 80%, with several large office spaces currently unoccupied.
The Regions Tower is owned by Hertz Investment Group, which acquired the property for $24,968,507 in September 1999. The ongoing financial issues and the impending auction raise questions about the future of this key property in Shreveport.
Frequently Asked Questions
What is the Regions Center?
The Regions Center comprises two buildings: a 25-story Regions Tower and a 16-story Regions Building, along with a nearly 1,000-space parking garage, located in the 300 block of Texas Street, Shreveport, Louisiana.
Why is the Regions Center being auctioned?
The Regions Center is set to be auctioned due to mounting financial issues, which include unpaid utility bills and loan defaults.
When will the Regions Center be auctioned?
The properties are scheduled to go up for auction on October 29, 2024, managed by the Caddo Sheriff’s Office.
What has led to the financial issues at the Regions Center?
The financial troubles stem from a reported $38.25 million loan default due to non-payment of operating expenses and failure to maintain the property.
What are the outstanding payments owed by the Regions Center?
Outstanding payments include an electric bill of $366,000 owed to SWEPCO and $21,000 owed to the Shreveport water department across three accounts.
What has happened to the tenants of Regions Center?
Tenants were unaware that the property was over six months in arrears on its SWEPCO utility payments, leading to disconnection notices for utilities.
| Feature | Details |
|---|---|
| Location | 300 block of Texas Street, Shreveport, Louisiana |
| Total Buildings | 2 (Regions Tower and Regions Building) |
| Parking Spaces | Nearly 1,000 |
| Loan Default Amount | $38.25 million |
| Outstanding Electric Bill | $366,000 |
| Outstanding Water Bill | $21,000 |
| Occupancy Rate | 80% |
| Auction Date | October 29, 2024 |
Deeper Dive: News & Info About This Topic
HERE Resources
Regions Tower in Shreveport Faces Financial Crisis
Historic Shreveport Building Set for Auction
Shreveport Office and Data Center Building Up for Auction
Additional Resources
- Shreveport Bossier Advocate: Regions Center Auction
- Shreveport Times: Regions Tower Foreclosure
- NOLA: SWEPCO Power Cut Notice
- KTBS: Tenant Concerns at Regions Tower
- Shreveport Times: Regions Bank Building Update
- Wikipedia: Regions Center
- Google Search: Regions Tower Shreveport
- Google Scholar: Regions Center Shreveport
- Encyclopedia Britannica: Regions Tower
- Google News: Regions Center Shreveport
Author: STAFF HERE SHREVEPORT WRITER
The SHREVEPORT STAFF WRITER represents the experienced team at HEREShreveport.com, your go-to source for actionable local news and information in Shreveport, Caddo Parish, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Mudbug Madness Festival, Red River Revel Arts Festival, and Independence Bowl. Our coverage extends to key organizations like the Shreveport-Bossier Chamber of Commerce and Shreveport Regional Arts Council, plus leading businesses in gaming, healthcare, and energy that power the local economy such as Horseshoe Casino, Ochsner LSU Health, and Atmos Energy. As part of the broader HERE network, including HEREBatonRouge.com and HERENewOrleans.com, we provide comprehensive, credible insights into Louisiana's dynamic landscape.
