As the economic ramifications of the COVID shutdowns start hitting large property owners, Michael T. Fay, principal, managing director and global head of Avison Young's asset resolution team, wonders if bigger deals are on the horizon. 

"I think we're going to see some larger portfolios trading," Fay says. "It will probably be a shifting of assets, where they [sellers] will take X amount of properties on the lower end [of performance] and sell them in one fell swoop. Then those organizations [acquiring the assets] will deal with them individually."

While performance may be the main factor determining what a company might sell, geography may also play a significant role. "I think we're going to see companies looking at their regions and saying, 'Okay, we're going to get out of this region and go to another region or even asset class,'" Fay says. "I think we're going to see a lot more companies selling out of entire asset classes."