AUSTIN, TX / ACCESS Newswire / February 26, 2026 / GVA Property Management, an Austin-based multifamily real estate investment and operating company, today announced that it has filed a formal grievance with the State Bar of Texas against attorney Ephraim "Fry" Wernick of Vinson & Elkins, LLC. GVA alleges that Wernick threatened to present criminal charges in an attempt to win $10,000,000 in settlement money for his client, Bryan Kastleman, who was dissatisfied with returns on speculative investments.

Background

Many of the properties previously managed by GVA were impacted by a series of unexpected hikes in the Effective Federal Funds Rate beginning in 2022. Mr. Kastleman retained Mr. Wernick to solicit from GVA the returns he had expected on his speculative investments.

Violation of Rule 4.04(b)

Mr. Wernick's alleged threats to pursue criminal charges in order to coerce a settlement would constitute a violation of Rule 4.04(b) of the Texas Disciplinary Rules of Professional Conduct. The rule states, in pertinent part, that a "lawyer shall not present, participate in presenting, or threaten to present...criminal or disciplinary charges solely to gain an advantage in a civil matter."

"We have always made it our priority to deal fairly and transparently with our investors, both through times of growth and times of challenge," said Alan Stalcup, founder and CEO at GVA. "Respecting the authority of our courts and their rules of conduct is an essential part of safeguarding that relationship. We trust our grievance and the subsequent review will ensure that the State Bar's high standards are firmly upheld."

The State Bar of Texas has confirmed that the matter is under active investigation. GVA will cooperate fully with the involved authorities and will be forthcoming with relevant documentation until the review process has concluded.

About GVA Property Management

GVA is a commercial real estate operator and investor specializing in multifamily apartment communities across the Southeastern United States and Texas markets. GVA was founded with a mission to make a positive impact on communities, deliver strong returns for investors, and provide exceptional career opportunities for employees.

Contact:

Michael Oberrender
512.497.0797
moberrender@gvamgt.com

SOURCE: GVA Management