Shreveport, October 13, 2025
News Summary
Regions Tower in downtown Shreveport has been placed under receivership due to unpaid utility bills and legal actions against its owner. Following a lawsuit from Wilmington Trust, Trigild Property Management will manage the building to resolve financial issues, ensuring utilities and tenant needs are addressed. The property faces a significant debt, including a $366,000 overdue utility bill and $56,767 in liens from local companies. This development marks a dramatic turn for the once-prominent tower in the Shreveport skyline.
Shreveport – The Regions Tower in downtown Shreveport has officially been placed under receivership following a series of unpaid utility bills and legal actions taken against the property’s ownership. This significant move comes after Wilmington Trust National Association filed a lawsuit in U.S. District Court on September 18, 2024, requesting the court to appoint a receiver due to the owner’s failure to maintain timely payments on operational expenses.
The court acted swiftly, granting the request for receivership shortly after the lawsuit was filed, which allows Trigild Property Management to take control of managing the building, addressing bills, leases, and tenant issues. The receivership also empowers Wilmington Trust to market the property for lease or sale. This authority remains in effect until the property is sold or transferred with court approval.
On August 21, 2024, employees from Southwestern Electric Power Company (SWEPCO) delivered electrical disconnect notices to Regions Tower, hinting that power would be cut off by the following Monday due to a severe outstanding payment. The overdue balance on the SWEPCO account was reported to be $366,000, marking over six months of arrears for the utility service. Tenants were taken by surprise, reportedly unaware of the financial difficulties faced by Plaza II Holdings LLC, the owner of Regions Tower.
The property had also received a disconnect notice from CenterPoint Energy, signaling further issues with unpaid water service bills. Moreover, the building’s security service provider indicated plans to vacate due to non-payment, raising concern over the safety and operations of the premises.
In addition to these utility concerns, several local companies, including Gene Nims Builders, Storer Services LTD, and Cowtown Materials, Inc., have filed liens totaling $56,767 against Regions Tower for unpaid services. These liens have exacerbated the financial straits of the property, which is currently encumbered by a loan of $38.25 million obtained following its purchase by the Hertz Investment Group in September 1999 for $24,968,507.
Regions Bank, which has been receiving inquiries regarding the situation, clarified its position, stating that it does not own Regions Tower and is not responsible for the property’s operational expenses. The financial trouble appears to stem from Plaza II Holdings LLC’s failure to maintain necessary operating funds and provide timely financial reports to the lender, leading to the current loan default.
The appointment of a receiver aims to stabilize the property’s management amidst growing financial tumult and ensure that utilities and other necessary services continue while addressing tenants’ needs. The court’s decision signifies a serious turn of events for the once-prominent Regions Tower, which has been an integral part of the Shreveport skyline.
Background on Regions Tower and Ownership
Regions Center in downtown Shreveport comprises the historic 16-story Regions Building, the 25-story Regions Tower, and a nearly 1,000-space parking garage. The ongoing financial issues not only impact the immediate operations but also the perception and viability of the property moving forward in a competitive real estate market.
Impact on Tenants and Local Community
Tenant concerns have increased as reports of unpaid services come to light. Close coordination between Trigild Property Management and the tenants will be crucial to alleviate the immediate impacts of this transition and to ensure continued operations in the building.
Key Details
- Regions Tower Status: Under receivership as of September 18, 2024.
- Outstanding SWEPCO Bill: $366,000.
- Utilities at Risk: Electricity and water service due to unpaid bills.
- Liens Filed: Totaling $56,767 from local service providers.
- Current Loan Amount: $38.25 million from previous ownership.
FAQ Section
What prompted the receivership of Regions Tower?
The receivership was prompted by nonpayment of bills, leading Wilmington Trust to file a lawsuit against Plaza II Holdings LLC on September 18, 2024.
How much is the unpaid SWEPCO balance?
The unpaid SWEPCO balance was $366,000, threatening disconnection of utilities.
Who is responsible for managing Regions Tower now?
Trigild Property Management has been appointed to manage Regions Tower under the receivership.
What is the current status of utilities at Regions Tower?
Utilities, including electricity and water, are at risk due to unpaid bills from SWEPCO and CenterPoint Energy.
What has happened to the building’s security service?
The building’s security services provider planned to vacate due to non-payment.
Key Features of the Situation
| Feature | Details |
|---|---|
| Location | Regions Tower, downtown Shreveport |
| Latest Action | Placed under receivership |
| Major Debt | $366,000 overdue to SWEPCO |
| Liens Filed | $56,767 from local companies |
| Management | Trigild Property Management appointed |
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Additional Resources
- Shreveport Bossier Advocate
- Wikipedia: Receivership
- The Advocate
- Google Search: Regions Tower Shreveport
- Shreveport Times
- Encyclopedia Britannica: Real Estate
- KTBS
- Google News: Shreveport Regions Tower
- KSLA
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.
