Shreveport, LA, October 13, 2025
News Summary
The Regions Tower in downtown Shreveport is facing severe financial challenges, marked by a lawsuit and unpaid utility bills. Recently, a significant payment was made to address overdue bills, but security services threatened to vacate due to non-payment, and multiple liens have been filed for past dues. The property is set to be auctioned following court approval, highlighting the financial turmoil surrounding Plaza II Holdings LLC, the owner, and the Hertz Investment Group. Regions Bank, while associated with the property’s name, is not liable for its financial struggles.
Shreveport, Louisiana—The Regions Tower in downtown Shreveport is facing severe financial struggles, as the property has become the subject of a lawsuit and will soon be auctioned due to unpaid bills. On August 21, 2024, employees from SWEPCO posted electrical disconnect notices on the property, leaving tenants unaware that Regions Tower had fallen over six months behind on their SWEPCO bill.
In response to these mounting issues, Wilmington Trust National Association, representing the property’s mortgage holder, advanced $420,841.59 to bring the SWEPCO utility balance current. However, the challenges didn’t end there, as CenterPoint Energy also issued a disconnect notice for overdue water service bills.
Additionally, security services for the property warned that they would vacate due to non-payment. Three local companies have filed liens against the owners of the building, totaling $56,766 in unpaid services.
It is important to note that Regions Bank does not own Regions Tower and therefore is not liable for the building’s expenses, despite its name prominently displayed on the tower. In light of these financial issues, on September 18, 2024, Wilmington Trust filed a 420-page lawsuit in U.S. District Court, aiming to place the owner of Regions Tower, Plaza II Holdings LLC, into receivership.
The suit cites nonpayment of bills as the primary reason for seeking receivership. The Hertz Investment Group, which purchased the Regions property in September 1999 for $24,968,507, has Isaac and William Zev Hertz and Sarah Hertz Gordon as guarantors. This financial turmoil has also affected other Hertz-owned properties, such as Hancock Whitney Center and 400 Poydras St. in New Orleans, which are currently in default under specific servicer control.
As of July 31, 2025, a writ of seizure and sale was issued by the Caddo Parish Sheriff’s Office for Regions Tower. Bidding for the auction is set to begin at two-thirds of the tower’s appraised value on October 29, 2024, handled by the Caddo Sheriff’s Office.
The Hertz Investment Group carries a $38.25 million loan on the Regions Tower, which is now in default due to unpaid operating expenses and a failure to provide timely financial reports. The court ruling allows Wilmington Trust to manage the property, while Trigild Property Management LLC has been appointed as the property’s manager.
Reports from August indicate that the Regions Tower was at least 90 days overdue on payments to SWEPCO. The initial threat of a power cutoff slated for August 26, 2024, was temporarily delayed after the property owner struck an agreement with SWEPCO, moving the cutoff date to August 29, 2024. Meanwhile, Regions Bank continues to monitor the situation for a potential solution from the building’s owners.
Summary of Key Events
- Regions Tower faced electrical disconnect notices on August 21, 2024.
- SWEPCO and CenterPoint Energy issued disconnect notices for unpaid utility bills.
- Wilmington Trust advanced payments and filed a lawsuit for receivership.
- A writ of seizure was issued, and an auction is scheduled for October 29, 2024.
- Hertz Investment Group is in default on the $38.25 million loan.
Recent Developments
- Unpaid bills led to local companies filing liens against Regions Tower’s owners.
- Regions Bank, a tenant, confirmed it is not responsible for building expenses.
- Management of the property has been transferred to Trigild Property Management LLC.
FAQ
What financial issues is the Regions Tower facing?
Regions Tower is facing severe financial struggles, including overdue utility bills and liens filed by local companies for unpaid services.
What actions have been taken regarding the Regions Tower?
Wilmington Trust filed a lawsuit to place the owner of Regions Tower into receivership, and an auction has been scheduled for October 29, 2024.
Who owns the Regions Tower?
The owner of Regions Tower is Plaza II Holdings LLC, which is part of the Hertz Investment Group, with Isaac and William Zev Hertz and Sarah Hertz Gordon as guarantors.
What is the situation with Regions Bank?
Regions Bank does not own Regions Tower and is monitoring the situation but is not responsible for the building’s expenses.
Key Features of the Regions Tower Situation
| Feature | Details |
|---|---|
| Ownership | Plaza II Holdings LLC (Hertz Investment Group) |
| Loan Amount | $38.25 million |
| Utility Bills Status | Over six months in arrears |
| Lawsuit Filed | September 18, 2024, for receivership |
| Auction Date | October 29, 2024 |
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Additional Resources
- Shreveport Bossier Advocate
- NOLA.com
- Shreveport Times
- KTBS News
- KSLA News
- Wikipedia: Regions Tower
- Google Search: Regions Tower Shreveport
- Google Scholar: Regions Tower Shreveport
- Encyclopedia Britannica: Regions Tower
- Google News: Regions Tower 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.
