What is considered a typical institutional sized deal? Does it depend on the buyers list?

I’m curious as to what people consider institutional deals since I come from a very high COL city/SF Bay Area. I work in asset management now and used to work in brokerage in the SF Bay Area. I worked at one of the top MF IS teams at CBRE/JLL/HFF and couldn’t really differentiate what people considered institutional deals. We had many deals ranging from $5 - $25 million with buyers ranging from private investors, institutions, and mom and pops. I noticed a lot of people on WSO consider “10 or 20+ million” or above as institution but I’m confused on how you guys weigh that. Are those just deals that institutions usually buy or are we talking about $50-100 million+?

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