Shreveport, LA, October 12, 2025
News Summary
Shreveport is dealing with severe financial troubles as the auction of Regions Tower is set for October 29, amid overdue utility payments and mounting debts. The building, managed by Caddo Sheriff’s Office, faces power disconnection notices due to unpaid bills exceeding six months. Wilmington Trust intervened to settle some utilities but further legal action has been initiated against Plaza II Holdings, the building owner. Occupancy rates are declining amidst these financial strains.
Shreveport is facing significant financial challenges with the auction of Regions Tower set for October 29, 2024, amid overdue utility payments and mounting debts. The auction is being managed by the Caddo Sheriff’s Office, as the property experiences ongoing power disconnection notices and various financial issues.
Regions Tower, part of a larger complex that includes a 25-story Regions Tower, a 16-story Regions Building, and a nearly 1,000-space parking garage, has recently encountered notable financial strains. Bills have reportedly been unpaid for more than six months, leading to a host of disconnection notices, including one from SWEPCO concerning overdue electrical payments.
On August 21, 2024, employees from SWEPCO posted electrical disconnect notices at Regions Tower, leaving tenants unaware of the dire situation regarding the property’s finances. As a response to the financial distress, Wilmington Trust National Association, representing the mortgage holder, intervened, paying a total of $420,841.59 to settle the SWEPCO utility balance. CenterPoint Energy also issued a disconnection notice for water service due to outstanding payments.
In addition to the utility disconnections, the property is burdened with debts to local contractors, accumulating a total of $56,767 specifically for unpaid repair and service bills. Despite the building carrying the Regions name, Regions Bank has clarified that it does not own Regions Tower and is not accountable for utility expenses.
On September 18, 2024, Wilmington Trust escalated the issue by filing a 420-page lawsuit to initiate receivership for Plaza II Holdings LLC, the owner of the building. This legal action will assign creditor Trigild Property Management LLC to oversee the financial management and operations of the property.
Regions Tower and its accompanying buildings were initially purchased by Hertz Investment Group in September 1999 for nearly $25 million. However, in recent years, Hertz Investment Group has defaulted on a $38.25 million loan due to unpaid bills and inability to meet financial obligations. The occupancy rates have declined significantly, with current occupancy at 80% for Regions Tower and 83% for the Regions Bank building.
Further complicating matters, a writ of seizure and sale was issued on July 31, 2025, reflecting the ongoing financial turmoil surrounding the property. Contractors have placed multiple liens against the property due to unpaid services, highlighting the increasing difficulty faced by the owners in maintaining the properties amidst the financial downturn.
Key Features of Regions Tower:
- Location: Downtown Shreveport, Louisiana at 301 and 333 Texas Street
- Structures: 25-story Regions Tower and a 16-story Regions Building
- Parking: Nearly 1,000-space parking garage
- Auction Date: October 29, 2024
- Current Mortgage Default: $38.25 million due to Hertz Investment Group
- Occupancy Rates: 80% (Regions Tower), 83% (Regions Bank building)
- Outstanding Payments: Over $56,000 owed to local contractors
FAQ Section
When is the Regions Tower auction scheduled?
Regions Center will go on auction on October 29, 2024, with the Caddo Sheriff’s Office handling the auction.
What are the current financial issues facing Regions Tower?
The property has been experiencing financial issues, with bills more than six months overdue and multiple outstanding debts.
Who manages the auction of Regions Tower?
The auction is being managed by the Caddo Sheriff’s Office.
What action has Wilmington Trust taken regarding the building?
On September 18, 2024, Wilmington Trust filed a 420-page lawsuit to place Plaza II Holdings LLC, the building owner, into receivership.
Deeper Dive: News & Info About This Topic
HERE Resources
Mayor Withdraws Proposed Water Bill Surcharge in Shreveport
Regions Center in Shreveport Set for Auction Amid Financial Struggles
Regions Tower in Shreveport Faces Financial Crisis
Shreveport Office and Data Center Building Up for Auction
Additional Resources
- Shreveport-Bossier Advocate
- Wikipedia: Regions Tower
- The Advocate
- Google Search: Regions Tower Shreveport
- Shreveport Times
- Encyclopedia Britannica: Receivership
- KSLA News
- Google News: Regions Tower Utility Issues
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.
