Dividend Capital Diversified Property Fund Inc commenced a cash self-tender offer to buy up to 5,340,454 of its class E shares.

The company set the purchase price at $7.49 per share, less any withholding taxes or interest, which comes to roughly $40 million. The company also has the option to increase the number of shares to up to 2% of the company's outstanding shares.

The offer is set to expire at 5 p.m. CT on June 14.