Corporate Property Associates 18 Global Inc. disclosed the results of Everest REIT Investors I LLC's cash tender offer to purchase up to 1.6 million shares of the nontraded diversified real estate investment trust's class C common stock for $6.20 per share.

Shareholders tendered 7,945 shares in the offer. Following the acquisition of all the tendered shares, Everest REIT Investors I and its affiliates will own less than 0.1% of the trust's outstanding shares.

The REIT's board earlier recommended its stockholders reject the tender offer.