Shreveport, LA, October 14, 2025
News Summary
The Regions Tower and Regions Building in downtown Shreveport will be auctioned on October 29, 2024, due to ongoing financial issues. Managed by the Caddo Sheriff’s Office, the auction is a result of significant unpaid utility bills and multiple liens filed by local vendors. The properties have been in receivership, reflecting broader troubles for Hertz Investment Group. The financial situation raises questions about the future of these key downtown properties.
Shreveport, Louisiana – The Regions Tower and Regions Building in downtown Shreveport are set to go on auction on October 29, 2024, following a prolonged period of financial troubles. The Caddo Sheriff’s Office will conduct the auction, with bidding starting at two-thirds of the properties’ appraised value.
Regions Tower, a prominent 25-story building, has previously maintained an occupancy rate of about 80%. However, it has fallen on hard times, leading to its placement in receivership for over a year due to ongoing financial difficulties. Recently, in August 2024, Southwestern Electric Power Company (SWEPCO) issued electrical disconnect notices at Regions Tower, highlighting unpaid utility bills. Reports indicate that the property owner, Hertz Investment Group, was six months behind on SWEPCO payments, totaling over $420,000.
In addition to the electrical issues, Wilmington Trust National Association intervened by advancing $420,841.59 to cover past due SWEPCO utility bills. The financial troubles are further compounded by a disconnect notice for overdue water service payments from CenterPoint Energy. The building’s security service provider also planned to vacate due to ongoing non-payment issues.
Furthermore, three local companies have filed liens against the building for unpaid services. Gene Nims Builders is owed $25,507, Storer Services LTD is owed $27,721, and Cowtown Materials, Inc. is owed $1,538, bringing the total debts owed to vendors to $56,767. Despite these challenges, Regions Bank clarified that it does not own the facility or hold any operational responsibilities related to it.
On September 18, 2024, a 420-page lawsuit was filed in U.S. District Court by Wilmington Trust, seeking to place the building’s owner, Plaza II Holdings LLC, into receivership. The lawsuit lists non-payment of bills as a significant factor necessitating the receivership. The guarantors for the property owner’s loan, which amounts to $38.25 million, are Isaac and William Zev Hertz and Sarah Hertz Gordon.
Hertz Investment Group had originally purchased the Regions property in September 1999 for approximately $24.97 million. In terms of legal actions, a writ of seizure and sale was issued by the Caddo Parish Sheriff’s Office on July 31, 2025, in relation to these properties. With other properties owned by Hertz Investment Group also in default of their debts, the financial predicament is reflective of broader challenges facing the company.
The upcoming auction represents a critical juncture for Regions Tower and Regions Building and could determine the future of these downtown Shreveport properties as financial strains continue to mount.
Key Details
- Properties: Regions Tower and Regions Building
- Auction Date: October 29, 2024
- Auctioning Body: Caddo Sheriff’s Office
- Occupancy Rate: Approximately 80%
- Total SWEPCO Bills: Over $420,000
- Vendor Debts: $56,767
- Original Purchase Price: Approximately $24.97 million
- Loan Guarantors: Isaac and William Zev Hertz and Sarah Hertz Gordon
Background Context
The financial troubles leading to the auction began when Hertz Investment Group fell behind on utility payments, prompting action from SWEPCO and Wilmington Trust. The lawsuit filed by Wilmington Trust and the non-payment notices underline the severe financial distress affecting the property. The auction may serve as a chance for new ownership, potentially bringing revitalization to the buildings and the surrounding downtown area.
FAQ
When will the Regions Tower and Regions Building go on auction?
The auction will take place on October 29, 2024.
Who is conducting the auction?
The auction will be conducted by the Caddo Sheriff’s Office.
What is the current financial situation of the Regions properties?
The properties have been in receivership for over a year due to financial difficulties, and Hertz Investment Group was six months behind on SWEPCO payments, totaling over $420,000.
What debts are associated with the Regions Tower?
Total debts owed to vendors are reported to be $56,767.
Who are the guarantors for the property owner’s loan?
The guarantors for the property owner’s loan, totaling $38.25 million, are Isaac and William Zev Hertz and Sarah Hertz Gordon.
Key Features Chart
| Feature | Details |
|---|---|
| Properties | Regions Tower and Regions Building |
| Auction Date | October 29, 2024 |
| Auctioning Body | Caddo Sheriff’s Office |
| Occupancy Rate | Approximately 80% |
| Total SWEPCO Bills | Over $420,000 |
| Vendor Debts | $56,767 |
| Original Purchase Price | Approximately $24.97 million |
| Loan Guarantors | Isaac and William Zev Hertz and Sarah Hertz Gordon |
Deeper Dive: News & Info About This Topic
HERE Resources
Regions Tower in Shreveport Placed Under Receivership
Regions Tower in Financial Crisis Amid Lawsuit and Auction
Shreveport Faces Financial Crisis as Regions Tower Auction Approaches
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: Auction
- KTBS
- Google Search: Regions Tower Shreveport
- The Advocate
- Encyclopedia Britannica: Downtown Shreveport
- Shreveport Times
- Google News: Regions Building 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.
