Care Investment Trust LLC ("Care" or the "Company"), a seniors housing-focused real estate investment and finance subsidiary of Tiptree Financial Inc. (NASDAQ:TIPT), has formed a joint venture to own and operate 3 senior housing communities with affiliates of Greenfield Senior Living, Inc. ("Greenfield"), a privately-held owner and operator of senior housing facilities in the Mid-Atlantic and South regions of the United States. Care owns an 80% interest in the joint venture, while affiliates of Greenfield own the remaining 20% interest and provide management services to the communities under a management contract. The 360-unit portfolio acquisition closed on October 1, 2014. In connection with the acquisition, Care and Greenfield secured a $23.1 million, 5 year loan, which includes 36 months of interest only payments and a $2 million earn out feature.

Salvatore (Torey) V. Riso, Jr., President and Chief Executive Officer of Care, stated, "Care is excited about expanding its relationship with Greenfield by joining as partners to own and operate these three facilities. Greenfield has an exceptional track record of adding value to the properties it manages, while allowing its residents to lead full and enriching lives with dignity. We are thrilled to build our company with such a skilled and experienced operator, and we look forward to what lies ahead for Care and Greenfield."

Mathew Peponis, Chief Executive Officer of Greenfield, said, "Working together with Care, we continue to build upon our shared mission of transforming the experience of senior care. We are delighted to have Greenfield Residences at Monument Avenue and Greenfield Residences of Arlington Texas join the Greenfield Family.”

Transaction Highlights:

— Care partners with Greenfield, a company that now operates 14 seniors housing facilities in Pennsylvania, Virginia, Tennessee, and Texas.

— Care and Greenfield together acquire an independent living facility in Arlington, Texas with 178 units and an assisted living facility in Richmond, Virginia with 55 assisted living units. Greenfield contributes one of its existing properties to the new partnership with 68 independent living units, 44 assisted living units, and 15 memory care units located in Oakridge, Tennessee.

— Care and Greenfield plan to enhance the resident experience at the communities by implementing an extensive capital improvement program and by adding programming at two of the communities to cater to higher acuity residents.

About Care Investment Trust LLC

Care Investment Trust LLC is a real estate investment and finance company that invests in seniors housing and healthcare-related real estate. Care is a wholly-owned subsidiary of Tiptree Financial Inc. ("Tiptree") (NASDAQ:TIPT), a diversified holding company engaged through its consolidated subsidiaries in a number of businesses and is an active acquirer of new businesses. Tiptree, whose operations date back to 2007, currently has subsidiaries that operate in four industry segments: insurance and insurance services, specialty finance, asset management and real estate.

About Greenfield Senior Living, LLC

Virginia-based, Greenfield is a “best-in-class” regional owner/operator of Independent Living, Assisted Living and Memory Care communities specializing in creating value through acquiring, repositioning and managing distressed senior housing communities back to profitability. Greenfield currently operates 14 communities comprising 1,150 units all located in the Mid-Atlantic and South regions.

Cautionary Statement Regarding Forward-Looking Statements

This release contains “forward-looking statements” which involve risks, uncertainties and contingencies, many of which are beyond the Tiptree’s control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “should,” “target,” “will,” or similar expressions are intended to identify forward-looking statements. Such forward-looking statements include, but are not limited to, statements about the Tiptree’s plans, objectives, expectations and intentions. The forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, many of which are beyond the Tiptree’s control, are difficult to predict and could cause actual results to differ materially from those expressed or forecast in the forward-looking statements. The Tiptree’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including, but not limited to those described in the section entitled “Risk Factors” in the Tiptree’s Annual Report on Form 10-K, and as described in the Tiptree’s other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date of this release. The factors described therein are not necessarily all of the important factors that could cause actual results or developments to differ materially from those expressed in any of the Tiptree’s forward-looking statements. Other unknown or unpredictable factors also could affect our forward-looking statements. Consequently, the Tiptree’s actual performance could be materially different from the results described or anticipated by its forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Except as required by the federal securities laws, we undertake no obligation to update any forward-looking statements.

For more information on Care Investment Trust LLC, please visit www.careinvestmenttrust.com

For more information on Greenfield Senior Living, Inc., please visit www.greenfieldseniorliving.com