<SEC-DOCUMENT>0001172661-21-002289.txt : 20211115
<SEC-HEADER>0001172661-21-002289.hdr.sgml : 20211115
<ACCEPTANCE-DATETIME>20211115140855
ACCESSION NUMBER:		0001172661-21-002289
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210930
FILED AS OF DATE:		20211115
DATE AS OF CHANGE:		20211115
EFFECTIVENESS DATE:		20211115

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DigitalBridge Group, Inc.
		CENTRAL INDEX KEY:			0001679688
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				464591526
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-19781
		FILM NUMBER:		211409013

	BUSINESS ADDRESS:	
		STREET 1:		750 PARK OF COMMERCE DRIVE
		STREET 2:		SUITE 210
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33487
		BUSINESS PHONE:		561-544-7475

	MAIL ADDRESS:	
		STREET 1:		750 PARK OF COMMERCE DRIVE
		STREET 2:		SUITE 210
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33487

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Colony Capital, Inc.
		DATE OF NAME CHANGE:	20180621

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Colony NorthStar, Inc.
		DATE OF NAME CHANGE:	20160714
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<SEQUENCE>1
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          <ns1:street2>Suite 210</ns1:street2>
          <ns1:city>Boca Raton</ns1:city>
          <ns1:stateOrCountry>FL</ns1:stateOrCountry>
          <ns1:zipCode>33487</ns1:zipCode>
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    <signatureBlock>
      <name>Leon Schwartzman</name>
      <title>Chief Compliance Officer</title>
      <phone>310-552-7127</phone>
      <signature>/s/ Leon Schwartzman</signature>
      <city>Los Angeles</city>
      <stateOrCountry>CA</stateOrCountry>
      <signatureDate>11-15-2021</signatureDate>
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      <Sole>21000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EQUINIX INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29444U700</cusip>
    <value>7190</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>9100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EQUINIX INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29444U700</cusip>
    <value>5926</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EQUINIX INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29444U700</cusip>
    <value>51358</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>65000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EQUITY COMWLTH</nameOfIssuer>
    <titleOfClass>COM SH BEN INT</titleOfClass>
    <cusip>294628102</cusip>
    <value>1338</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>51500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EQUITY COMWLTH</nameOfIssuer>
    <titleOfClass>COM SH BEN INT</titleOfClass>
    <cusip>294628102</cusip>
    <value>1780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>68500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EQUITY LIFESTYLE PPTYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29472R108</cusip>
    <value>4921</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>63000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EQUITY LIFESTYLE PPTYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29472R108</cusip>
    <value>4842</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>62000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ERICSSON</nameOfIssuer>
    <titleOfClass>ADR B SEK 10</titleOfClass>
    <cusip>294821608</cusip>
    <value>2166</value>
    <shrsOrPrnAmt>
      <sshPrnamt>193384</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>193384</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EXPEDIA GROUP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>30212P303</cusip>
    <value>4622</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>28200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FS KKR CAP CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>302635206</cusip>
    <value>1653</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>75000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GDS HLDGS LTD</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>36165L108</cusip>
    <value>5661</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GDS HLDGS LTD</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>36165L108</cusip>
    <value>1090</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>19250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITE PT MTG TR INC</nameOfIssuer>
    <titleOfClass>NOTE 6.375%10/0</titleOfClass>
    <cusip>38741LAC1</cusip>
    <value>1010</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>1000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HERCULES CAPITAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>427096508</cusip>
    <value>498</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>30000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INDUS REALTY TRUST INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45580R103</cusip>
    <value>8426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>120200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INDUS REALTY TRUST INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45580R103</cusip>
    <value>9457</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134902</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>134902</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LAMAR ADVERTISING CO NEW</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>512816109</cusip>
    <value>2780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>24500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LAMAR ADVERTISING CO NEW</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>512816109</cusip>
    <value>1985</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>17500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LEXINGTON REALTY TRUST</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>529043101</cusip>
    <value>1766</value>
    <shrsOrPrnAmt>
      <sshPrnamt>138500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>138500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LEXINGTON REALTY TRUST</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>529043101</cusip>
    <value>1256</value>
    <shrsOrPrnAmt>
      <sshPrnamt>98500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>98500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LIBERTY LATIN AMERICA LTD</nameOfIssuer>
    <titleOfClass>COM CL C</titleOfClass>
    <cusip>G9001E128</cusip>
    <value>1443</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>110000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MAIN STR CAP CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>56035L104</cusip>
    <value>2149</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>52300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MGM GROWTH PPTYS LLC</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>55303A105</cusip>
    <value>12294</value>
    <shrsOrPrnAmt>
      <sshPrnamt>321000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>321000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MGM GROWTH PPTYS LLC</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>55303A105</cusip>
    <value>11682</value>
    <shrsOrPrnAmt>
      <sshPrnamt>305000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>305000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NETFLIX INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64110L106</cusip>
    <value>1953</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PARK HOTELS &amp; RESORTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>700517105</cusip>
    <value>2891</value>
    <shrsOrPrnAmt>
      <sshPrnamt>151000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>151000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PARK HOTELS &amp; RESORTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>700517105</cusip>
    <value>2546</value>
    <shrsOrPrnAmt>
      <sshPrnamt>133000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>133000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROLOGIS INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74340W103</cusip>
    <value>3073</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>24500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROLOGIS INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74340W103</cusip>
    <value>4127</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>32900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REXFORD INDL RLTY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76169C100</cusip>
    <value>2299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>40500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REXFORD INDL RLTY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76169C100</cusip>
    <value>1703</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>30000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STARWOOD PPTY TR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>85571B105</cusip>
    <value>205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>8400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STARWOOD WAYPOINT HOMES</nameOfIssuer>
    <titleOfClass>NOTE 3.500% 1/1</titleOfClass>
    <cusip>19625XAB8</cusip>
    <value>4046</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2400000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>2400000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SUN CMNTYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>866674104</cusip>
    <value>2036</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>11000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SUNSTONE HOTEL INVS INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>867892101</cusip>
    <value>2209</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>185000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SUNSTONE HOTEL INVS INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>867892101</cusip>
    <value>1492</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>125000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SWITCH INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>87105L104</cusip>
    <value>54589</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2150000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2150000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SWITCH INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>87105L104</cusip>
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