TULSA, Okla. — There is a new landlord in Tulsa.
After winning a $930 million judgment against Vesta Realty’s Marc Kulick, a company called YSA Investments said it can legally begin taking over assets.
Representatives from YSA Investments recently arrived in Tulsa.
2 News Oklahoma is the only news outlet with them as they started locking Kulick out of 11 apartment complexes across Tulsa .
After years of dealing with declining conditions, including a green pool and bats in the walls, a tenant of Barcelona Apartments, Twila Stone, is skeptical of the new, out-of-state ownership.
“If I see some action, I’ll get happy,” she said. “But we have been told so much crap, I’m not going to hold my breath.”
WATCH: VESTA LATEST: YSA Investments takes over 11 Vesta apartment complexes:
YSA said getting tenants the living conditions they deserve is the goal. The company is teaming up with local property management group, Capital Assets, for help.
“We need a little bit of patience, because it’s a big job,” said Greg Wright, President of Capital Assets. “Our goal is to get that done quickly so they can have a place to call home and be proud of it.”
2 News started digging into issues with Vesta properties months ago.
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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.
Parker Detweiler, a consultant for YSA, plans to be in Tulsa during the restoration process, “I’ll be here Monday through Friday, on site. If you see me, come say hi; I’m not hiding from anybody.”
2 News reported YSA is owned by a convicted arms dealer, Efraim Diveroli. Detweiler said that should not be a focus of concern.
“If every one of us had to live with what we did 20 years ago, for the rest of our lives, good luck,” he said.
YSA wanted to ask Vesta employees if they wanted to come work for them and keep their jobs. However, they learned Kulick ordered the staff to leave the properties once he got word YSA was in town.
YSA encourages staff members to contact Capital Assets.
As Twila Stone said, what change takes place is yet to be seen. But when Detweiler heard her talking about the bat problem, he wanted to restore hope.
He offered to immediately get them removed.
“Hell yes! It’s about time,” she said.
After getting the apartments up to par, YSA plans to sell to a long-term, local owner.
Kulick is not returning our calls for comment.
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