<SEC-DOCUMENT>0001172661-22-000652.txt : 20220214
<SEC-HEADER>0001172661-22-000652.hdr.sgml : 20220214
<ACCEPTANCE-DATETIME>20220214143058
ACCESSION NUMBER:		0001172661-22-000652
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20211231
FILED AS OF DATE:		20220214
DATE AS OF CHANGE:		20220214
EFFECTIVENESS DATE:		20220214

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:		22629632

	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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          <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>02-14-2022</signatureDate>
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      <sshPrnamt>70000</sshPrnamt>
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    <nameOfIssuer>EQUINIX INC</nameOfIssuer>
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  <infoTable>
    <nameOfIssuer>EQUINIX INC</nameOfIssuer>
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    <value>7528</value>
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  <infoTable>
    <nameOfIssuer>EQUINIX INC</nameOfIssuer>
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    <value>5963</value>
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    <nameOfIssuer>EQUITY LIFESTYLE PPTYS INC</nameOfIssuer>
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      <sshPrnamt>51000</sshPrnamt>
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    <nameOfIssuer>EQUITY LIFESTYLE PPTYS INC</nameOfIssuer>
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    <value>4996</value>
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      <sshPrnamt>57000</sshPrnamt>
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    <nameOfIssuer>EQUITY LIFESTYLE PPTYS INC</nameOfIssuer>
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    <cusip>29472R108</cusip>
    <value>4909</value>
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      <sshPrnamt>56000</sshPrnamt>
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      <Sole>56000</Sole>
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      <None>0</None>
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    <nameOfIssuer>ERICSSON</nameOfIssuer>
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    <value>1993</value>
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      <Sole>183384</Sole>
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      <None>0</None>
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    <nameOfIssuer>EXPEDIA GROUP INC</nameOfIssuer>
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    <value>2296</value>
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      <sshPrnamt>12700</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>EXPEDIA GROUP INC</nameOfIssuer>
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    <cusip>30212P303</cusip>
    <value>3163</value>
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      <sshPrnamt>17500</sshPrnamt>
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      <Sole>17500</Sole>
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      <None>0</None>
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    <nameOfIssuer>FOX CORP</nameOfIssuer>
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    <cusip>35137L105</cusip>
    <value>1255</value>
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      <sshPrnamt>34000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>34000</Sole>
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      <None>0</None>
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    <nameOfIssuer>FS KKR CAP CORP</nameOfIssuer>
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    <value>1571</value>
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      <sshPrnamt>75000</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>75000</Sole>
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      <None>0</None>
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    <nameOfIssuer>GDS HLDGS LTD</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>36165L108</cusip>
    <value>719</value>
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      <sshPrnamt>15250</sshPrnamt>
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      <Sole>15250</Sole>
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      <None>0</None>
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    <nameOfIssuer>GRANITE PT MTG TR INC</nameOfIssuer>
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      <Sole>1000000</Sole>
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      <None>0</None>
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    <nameOfIssuer>HERCULES CAPITAL INC</nameOfIssuer>
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    <value>498</value>
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      <sshPrnamt>30000</sshPrnamt>
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    <putCall>Put</putCall>
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      <Sole>30000</Sole>
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      <None>0</None>
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    <nameOfIssuer>HOST HOTELS &amp; RESORTS INC</nameOfIssuer>
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      <sshPrnamt>17000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>17000</Sole>
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      <None>0</None>
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    <nameOfIssuer>INDUS REALTY TRUST INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45580R103</cusip>
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      <sshPrnamt>105800</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>105800</Sole>
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      <None>0</None>
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    <nameOfIssuer>INDUS REALTY TRUST INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45580R103</cusip>
    <value>15797</value>
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      <sshPrnamt>194875</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>194875</Sole>
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      <None>0</None>
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    <nameOfIssuer>INDUS REALTY TRUST INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45580R103</cusip>
    <value>3487</value>
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      <sshPrnamt>43016</sshPrnamt>
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      <Sole>43016</Sole>
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      <None>0</None>
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    <nameOfIssuer>KITE RLTY GROUP TR</nameOfIssuer>
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    <value>3125</value>
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      <None>0</None>
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    <nameOfIssuer>KITE RLTY GROUP TR</nameOfIssuer>
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    <cusip>49803T300</cusip>
    <value>2439</value>
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      <sshPrnamt>112000</sshPrnamt>
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      <Sole>112000</Sole>
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      <None>0</None>
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    <nameOfIssuer>KITE RLTY GROUP TR</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>49803T300</cusip>
    <value>3289</value>
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      <sshPrnamt>151000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>151000</Sole>
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      <None>0</None>
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    <nameOfIssuer>LAMAR ADVERTISING CO NEW</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>512816109</cusip>
    <value>1917</value>
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      <sshPrnamt>15800</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>15800</Sole>
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      <None>0</None>
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    <nameOfIssuer>LIBERTY LATIN AMERICA LTD</nameOfIssuer>
    <titleOfClass>COM CL C</titleOfClass>
    <cusip>G9001E128</cusip>
    <value>1311</value>
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      <sshPrnamt>115000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>115000</Sole>
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      <None>0</None>
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    <nameOfIssuer>MACERICH CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>554382101</cusip>
    <value>346</value>
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      <sshPrnamt>20000</sshPrnamt>
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    <putCall>Call</putCall>
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      <Sole>20000</Sole>
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      <None>0</None>
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    <nameOfIssuer>MACOM TECH SOLUTIONS HLDGS I</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55405Y100</cusip>
    <value>783</value>
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      <sshPrnamt>10000</sshPrnamt>
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    <otherManager>2</otherManager>
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      <Sole>10000</Sole>
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      <None>0</None>
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    <nameOfIssuer>MGM GROWTH PPTYS LLC</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>55303A105</cusip>
    <value>14216</value>
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      <sshPrnamt>348000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>348000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MGM GROWTH PPTYS LLC</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>55303A105</cusip>
    <value>15319</value>
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      <sshPrnamt>375000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>375000</Sole>
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      <None>0</None>
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    <nameOfIssuer>MGM GROWTH PPTYS LLC</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>55303A105</cusip>
    <value>13583</value>
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      <sshPrnamt>332500</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>332500</Sole>
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      <None>0</None>
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    <nameOfIssuer>NETFLIX INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64110L106</cusip>
    <value>1145</value>
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      <sshPrnamt>1900</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1900</Sole>
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      <None>0</None>
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    <nameOfIssuer>ORION OFFICE REIT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68629Y103</cusip>
    <value>203</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>4</otherManager>
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      <Sole>10900</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ORION OFFICE REIT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>19288</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>19288</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ORION OFFICE REIT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68629Y103</cusip>
    <value>405</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21700</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
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      <Sole>21700</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PARK HOTELS &amp; RESORTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>700517105</cusip>
    <value>3210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>4</otherManager>
    <votingAuthority>
      <Sole>170000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PARK HOTELS &amp; RESORTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>700517105</cusip>
    <value>4390</value>
    <shrsOrPrnAmt>
      <sshPrnamt>232500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>232500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PARK HOTELS &amp; RESORTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>700517105</cusip>
    <value>4097</value>
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      <sshPrnamt>217000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
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      <Sole>217000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PROLOGIS INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74340W103</cusip>
    <value>1667</value>
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      <sshPrnamt>9900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>9900</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>PROLOGIS INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74340W103</cusip>
    <value>2525</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
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      <Sole>15000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PROLOGIS INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>758</value>
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      <sshPrnamt>4500</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>4</otherManager>
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      <Sole>4500</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>REXFORD INDL RLTY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76169C100</cusip>
    <value>9936</value>
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      <sshPrnamt>122500</sshPrnamt>
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      <Sole>122500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>REXFORD INDL RLTY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76169C100</cusip>
    <value>7381</value>
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      <sshPrnamt>91000</sshPrnamt>
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      <Sole>91000</Sole>
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      <None>0</None>
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    <nameOfIssuer>REXFORD INDL RLTY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76169C100</cusip>
    <value>8314</value>
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      <sshPrnamt>102500</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>4</otherManager>
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      <Sole>102500</Sole>
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      <None>0</None>
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    <nameOfIssuer>RPT REALTY</nameOfIssuer>
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    <cusip>74971D200</cusip>
    <value>2887</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
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      <Sole>49000</Sole>
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      <None>0</None>
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    <nameOfIssuer>STARWOOD PPTY TR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>85571B105</cusip>
    <value>204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8400</sshPrnamt>
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      <Sole>8400</Sole>
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      <None>0</None>
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    <nameOfIssuer>STARWOOD WAYPOINT HOMES</nameOfIssuer>
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    <cusip>19625XAB8</cusip>
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      <Sole>2400000</Sole>
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      <None>0</None>
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    <nameOfIssuer>SUN CMNTYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>866674104</cusip>
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      <sshPrnamt>34700</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>4</otherManager>
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      <Sole>34700</Sole>
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      <None>0</None>
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    <nameOfIssuer>SUN CMNTYS INC</nameOfIssuer>
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    <cusip>866674104</cusip>
    <value>6089</value>
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      <sshPrnamt>29000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
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      <Sole>29000</Sole>
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      <None>0</None>
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    <nameOfIssuer>SUN CMNTYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>866674104</cusip>
    <value>8084</value>
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      <sshPrnamt>38500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>38500</Sole>
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      <None>0</None>
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    <nameOfIssuer>SWITCH INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>87105L104</cusip>
    <value>71600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>2500000</Sole>
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      <None>0</None>
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    <nameOfIssuer>SWITCH INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>87105L104</cusip>
    <value>9122</value>
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      <sshPrnamt>318500</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>318500</Sole>
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      <None>0</None>
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    <cusip>87105L104</cusip>
    <value>7447</value>
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      <sshPrnamt>260000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>4</otherManager>
    <votingAuthority>
      <Sole>260000</Sole>
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      <None>0</None>
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    <nameOfIssuer>TANGER FACTORY OUTLET CTRS I</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>875465106</cusip>
    <value>289</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>TERRENO RLTY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88146M101</cusip>
    <value>5092</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59700</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>59700</Sole>
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      <None>0</None>
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    <nameOfIssuer>TERRENO RLTY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88146M101</cusip>
    <value>5117</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>88146M101</cusip>
    <value>4546</value>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>872590104</cusip>
    <value>1150</value>
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      <Sole>9916</Sole>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>87266M107</cusip>
    <value>2508</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
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      <Sole>203603</Sole>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>87266M107</cusip>
    <value>1507</value>
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      <sshPrnamt>122300</sshPrnamt>
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    <cusip>87266M107</cusip>
    <value>2562</value>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>91325V108</cusip>
    <value>1226</value>
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      <sshPrnamt>87500</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1750000</Sole>
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    <cusip>925550105</cusip>
    <value>1772</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100577</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>925652109</cusip>
    <value>301</value>
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      <sshPrnamt>10000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>925652109</cusip>
    <value>6625</value>
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      <sshPrnamt>220000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>925652109</cusip>
    <value>3463</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>115000</Sole>
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      <None>0</None>
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    <nameOfIssuer>VNET GROUP INC</nameOfIssuer>
    <titleOfClass>SPONSORED ADS A</titleOfClass>
    <cusip>90138A103</cusip>
    <value>11965</value>
    <shrsOrPrnAmt>
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    <cusip>92857W308</cusip>
    <value>6360</value>
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    <cusip>92857W308</cusip>
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    <nameOfIssuer>WARNER MUSIC GROUP CORP</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>934550203</cusip>
    <value>1641</value>
    <shrsOrPrnAmt>
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      <None>0</None>
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</informationTable>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
