TULSA, Okla. — As the battle over who owns 11 apartment complexes across the Tulsa metro wages on, 2 News is getting more clarity for thousands of tenants stuck in the middle.
They simply want livable conditions.
2 News Oklahoma is committed to seeing the saga between Vesta and YSA through to the end. However, some answers came after a chaotic morning.
WATCH: CLARITY FOR TENANTS: What you need to know about Vesta, YSA legal battle:
Tulsa Police Department and Tulsa County Sheriff’s Office vehicles lined up outside the Eton Square front office Wednesday. Inside, representatives from Vesta Realty and YSA both claimed to be owners of the property.
2 News reported Monday when YSA came to town, it changed the locks on all apartment buildings and took over.
But Vesta said the court battle is not over, so they came to Eton Square to change the locks again.
2 News Anchor Erin Christy spoke with owner Marc Kulick by phone, who claims YSA is lacking a court order.
“I have a credible plan to recapitalize my properties,” he said. “The thing I need is to get YSA dealt with. We have an emergency hearing in front of a federal bankruptcy judge on Monday.”
Vesta emailed tenants, telling them not to pay rent to anyone until the issue is resolved. 2 News got a copy of that email:
Capital Assets, the local YSA partner, told residents to pay YSA through a new payment portal.
“Just kind of confused on the whole situation,” said James Scott, an Eton Square tenant.
After about an hour, law enforcement told Vesta to leave, pointing to the fact that YSA had the deed.
Officers told Vesta representatives that until they can prove otherwise, YSA owns the complexes. Officers said Vesta would need what is called a writ of stay.
“I know there were other email messages from the previous management company saying, ‘don’t pay.’ But really, to protect them legally, because they have a lease obligation, they need to pay the rent,” said Greg Wright of Capital Assets.
“I know there is a legal battle and I am just the property management company,” he added. “I want to take care of the residents, I want to try and repair things if needed, and those are our goals.”
“It’s kind of weird that the cops would have to be out here for that, but hey, it’s 2026, who knows what’s happening,” Scott added.
Vesta representatives later showed up at another property, 23 East, to change the locks. Officers showed up again and told them the same thing: YSA owns the properties.
City officials told 2 News they have scheduled meetings with YSA. They say that air conditioners and trash service are priorities, and plan to ensure they fix those problems for tenants.
Kulick said he feels he has more clarity on what’s expected of him, and is working on getting the proper paperwork.
He issued this statement:
We are working on understanding what the writ requested is as my attorneys were unfamiliar. We will get all information required based on my conversations with the sheriff's office.
We deeply apologize for the inconvenience this has caused the entire city. People need to remember that this all thing emanated from a $317,000 loan. Since that time, YSA's actions have caused immeasurable problems for our residents who depend on us and our completely innocent investors who trusted us. All we want to do is put YSA behind us through the courts and work to rebuild trust with our residents, our investors, and the City.
Look back on all of our coverage of the Vesta properties:
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TAKEOVER: YSA Investments now owns 11 Vesta apartment complexes
Tulsa officially has a new landlord. After winning a $930 million judgment against Vesta Realty’s Marc Kulick, a company called YSA Investments says it can legally begin taking over assets. -
Plot Twist: How the Vesta saga now includes racketeering claims and ‘War Dogs’
A second business partner has filed a lawsuit against Marc Kulick, accusing the Vesta Realty owner of moving cash and using the borrowed money to fund his lavish lifestyle and gambling habit. -
FORECLOSURE: Fannie Mae initiates foreclosure on 8 Vesta properties
Fannie Mae initiated foreclosure proceedings on 8 Vesta properties across Oklahoma due to nonpayment. The balance on these loans totals $174,352,000, and residents are caught in the middle. -
Q&A with Vesta Realty CEO Marc Kulick
2 News was flooded with emails from concerned tenants with a variety of issues at Vesta owned apartments. Stef Manchen sat down with CEO Marc Kulick to get answers. -
Mounting trash, legal problems: New lawsuits against Tulsa-based Vesta Realty
2 News viewers asked us to look into the company when trash was not being picked up at several apartment complexes run by Vesta. -
Hundreds without hot water, Stillwater takes Vesta to court
2 News first started covering problems with Vesta Realty in January, when we heard from multiple tenants that their trash wasn’t being picked up, despite residents being responsible for the bill. -
LAWSUIT FILED: Vesta Realty’s business partner sues, claims fraud
Marc Kulick, the owner of Vesta Realty, is being sued by his business partner, who accuses Kulick of using the business as his “personal piggy bank.” -
Vesta water bills paid, but Tulsans say pattern of late payments causes stress
"They need to take care of business because there's a lot of families here that depend on having a place to stay and this is one of the only places that a lot of these people have to go right now," said Shoreline resident Shaun Blalock.
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