Irvine has the fastest growing baby boomer population in the state, while San Francisco has the biggest population.

The deal is structured as a sale leaseback as part of a consortium alongside Related Cos. and a third-party investor.

The biggest gainer within the top 10 cities was Midtown Manhattan in New York City, which climbed to the fourth most expensive market this year from the sixth last year.

In addition to the passage of the Fiscal 2020 Operating and Capital Budgets, the City Council overwhelmingly approved a plan to build a $60-million liquified natural gas facility in Southwest Philadelphia.