RECENT DEVELOPMENTS On July 6, 2015 the REIT announced it had signed a definitive agreement to acquire a 100% interest in Hotel Saskatchewan, a full-service, 224-room upscale hotel located in downtown Regina, Saskatchewan. The hotel features a restaurant and lounge, a tea room, 14,000 square feet of meeting space, 3,600 square feet of leased commercial space, and a 92-space adjacent parking lot. The hotel is currently undergoing a repositioning to the Marriott Autograph Collection with Marriott Hotels, which is expected to be completed in late 2015. The hotel is being acquired for a net purchase price of $37 million and the acquisition is expected to be completed in the third quarter of 2015.