Sunrise REIT announces expected date of release of annual financial results and postponement of unitholder meeting



    TORONTO, March 27, 2007 /CNW/ - Sunrise Senior Living Real Estate
Investment Trust ("Sunrise REIT") (TSX:SZR.UN) announced today that it expects
to release and file its 2006 annual financial results and annual MD&A on
Monday, April 2, 2007. Complete copies will be available on SEDAR at
www.sedar.com and will also be posted on Sunrise REIT's website at
www.sunrisereit.ca.
    Sunrise REIT also announced today that the special meeting of unitholders
(the "Special Meeting") to consider the proposed transaction (the "Proposed
Transaction") with, among others, Ventas, Inc. ("Ventas") that was previously
scheduled for 10:00 am (Toronto time) on Friday, March 30, 2007 has been
postponed until 2:00 p.m. (Toronto time) on Wednesday, April 11, 2007. The
postponement of the Special Meeting has been made following a request by
Ventas, to which Sunrise REIT has agreed, to enable the dissemination of the
Sunrise REIT 2006 annual financial results to Unitholders prior to the Special
Meeting. Unitholders may now deposit proxies for the Special Meeting up until
2:00 p.m. (Toronto time) on Tuesday, April 10, 2007. An aggregate of
65,826,121 trust units of Sunrise REIT ("Units") were issued and outstanding
on the February 19, 2007 record date, and are entitled to vote at the Special
Meeting.
    If Sunrise REIT unitholders approve the Proposed Transaction at the
Special Meeting, then the closing of the Proposed Transaction is expected to
occur on or about Friday, April 13, 2007 (the "Closing Date"). It is the
intention of Sunrise REIT to effect the redemption of all of the issued and
outstanding Units as soon as possible on or after the Closing Date.
    Sunrise REIT also announced today that in connection with the
postponement of the Special Meeting, Ventas has agreed to permit Sunrise REIT
to declare and pay, in addition to the normal monthly distribution for
March 2007, a pro rata amount of Sunrise REIT's regular monthly distribution
of $0.0729 per Unit for the period from April 1, 2007 up to but excluding the
Closing Date.
    The contents of this press release shall be deemed to be incorporated by
reference into the Management Information Circular of Sunrise REIT dated
March 6, 2007.

    About Sunrise REIT (TSX:SZR.UN)

    Sunrise REIT was formed to indirectly acquire, own and invest in
income-producing senior living communities in major metropolitan markets and
their surrounding suburban areas in Canada and the United States. Sunrise REIT
owns 74 senior living communities, 11 in Canada and 63 in the United States.
All of Sunrise REIT's senior living communities are managed by Sunrise Senior
Living, Inc. one of the largest providers of senior living services in North
America. Sunrise REIT also directly acquires interests in newly developed
senior living communities through development and financing arrangements with
Sunrise Senior Living, Inc.

    Forward-Looking Statements

    Certain statements contained in this news release may include
forward-looking information with respect to Sunrise REIT's operations and
future financial results. Such statements are based on current expectations,
are subject to a number of uncertainties and risks, and actual results may
differ materially from those contained in such statements. These uncertainties
and risks include, but are not limited to, availability of resources,
competitive pressures, changes in market activity and regulatory requirements.
Further information can be found in disclosure documents filed by Sunrise REIT
with regulatory authorities, available at www.sedar.com.





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SUNRISE SENIOR LIVING REAL ESTATE INVESTMENT TRUST

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