As the battle over who owns 11 apartment complexes across the Tulsa metro wages on, we have more clarity for thousands of tenants who are stuck in the middle and 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.
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 were both claiming to be owners of the property.
2 News reported Monday that when YSA came to town, it changed the locks on all apartment buildings and took over.
But Vesta says the court battle is not over, so they came to Eton Square to change the locks again.
We 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.
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: that YSA owns the properties.
City officials tell 2 News that 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."
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