Shreveport, October 16, 2025
News Summary
The Regions Bank Tower in downtown Shreveport will be auctioned on October 29 as part of the Caddo Parish Sheriff’s Sale after being in receivership due to unpaid utility bills. Despite ownership issues, the property maintains an 80% occupancy rate. With significant utility debt and prior legal actions, this auction marks a pivotal moment for the buildings owned by Plaza II Holdings LLC. Regions Bank, a tenant in the complex, is monitoring developments as bidding approaches.
Shreveport – The Regions Bank Tower in downtown Shreveport is set to be sold during an auction on Wednesday, October 29, as part of the Caddo Parish Sheriff’s Sale. This comes after more than a year of the buildings being in receivership due to unpaid utility payments.
The complex includes two office towers: a 25-story Regions Tower and a 16-story Regions Bank Building. Additionally, the property features a parking garage with nearly 1,000 spaces. Despite ownership issues, the buildings currently maintain an occupancy rate of about 80%.
In August 2024, SWEPCO issued an electricity disconnection notice to the building, indicating that the owner owed over $420,000 in unpaid bills. The owner, Hertz Investment Group, was informed of these issues, and a resolution was achieved with SWEPCO to settle the power bill without interrupting electricity services.
Importantly, Regions Bank, despite its name prominently displayed on the towers, clarified that it does not own these buildings and is not responsible for any expenses related to them. Regions Bank is among many tenants in the complex and is actively monitoring the situation as the auction approaches.
The upcoming auction follows a legal filing on September 18, 2024, by Wilmington Trust National Association, which sought to place Plaza II Holdings LLC, the building’s owner, into receivership. Hertz Investment Group purchased the property back in September 1999 for approximately $24.97 million.
The Caddo Parish Sheriff’s Office will conduct the auction, with bidding starting at two-thirds of the appraised value of the properties. Reports indicate that several other properties owned by Hertz Investment Group in New Orleans are also in default and are under the control of special servicers.
The tenant community was caught off guard by the electric disconnection notices, as they were previously unaware of the payment arrears. In light of these issues, multiple local companies have filed liens against the buildings’ owners for unpaid services.
Regardless of the auction’s outcome, Regions Bank affirmed its commitment to serve clients in Shreveport.
Key Features of the Regions Bank Towers Auction
- Location: Downtown Shreveport
- Date of Auction: October 29, 2024
- Buildings: 25-story Regions Tower and 16-story Regions Bank Building
- Occupancy: Approximately 80%
- Parking: Nearly 1,000-space garage
- Utility Debt: Over $420,000 owed to SWEPCO
- Original Purchase Price: Approximately $24.97 million in September 1999
FAQ
When is the auction for the Regions Bank Tower taking place?
The auction will occur on Wednesday, October 29, as part of the Caddo Parish Sheriff’s Sale.
Who owns the Regions Bank Tower?
The buildings are owned by Plaza II Holdings LLC, which is under the control of Hertz Investment Group.
What is the current occupancy rate of the buildings?
The buildings maintain an occupancy rate of about 80%.
How much is owed in unpaid utility bills?
In August 2024, SWEPCO posted an electricity disconnection notice indicating the owner owed over $420,000 in unpaid bills.
What will happen at the auction?
The Caddo Parish Sheriff’s Office will handle the auction process, with bidding beginning at two-thirds of the appraised value of the properties.
Deeper Dive: News & Info About This Topic
HERE Resources
Regions Bank Tower Complex in Shreveport Set for Auction
Regions Tower and Building Auction Set in Shreveport
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
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
- KSLA News
- Wikipedia: Shreveport
- KTBS News
- Google Search: Regions Bank Tower auction
- Shreveport-Bossier Advocate
- Google Scholar: Shreveport real estate auction
- Shreveport Times
- Encyclopedia Britannica: Shreveport
- Eastern Progress
- Google News: Regions Bank
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.
