You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text. 
Text: These results demonstrate the successful execution of our strategic initiatives and progress in continuing to evolve Tanger to drive improved profitability and shareholder value.
We have seen traffic and sales return to pre-pandemic levels as our open-air centers offer an excellent value proposition for both retailers and the shoppers.
Sandeep is currently the CEO at WeWork and previously was CEO of Brookfield Properties retail group and of GGP.
We are privileged to benefit from his experience and wisdom and look forward to his ongoing counsel and guidance.
Our second quarter results demonstrate continued progress in the leasing, operating and marketing of our open-air retail centers.
Tenant sales and domestic traffic are now outpacing pre-pandemic levels.
We've achieved a 130 basis point sequential increase in occupancy and a meaningful rebound in same-center NOI.
We are curating a compelling mix of brands and uses, creating a sense of place for experiential outings, connecting with shoppers in more personalized ways and monetizing the non-store elements of our centers.
Same-center NOI in the second quarter was up 88% compared to the second quarter of 2020 and represents 93% of the same period in 2019.
For the second quarter, traffic to our domestic centers was above the same period of 2019.
This sustained rebound in traffic levels clearly reflects the attraction of our open-air shopping centers, their dominant market location and the value proposition that we offer to both our retailer partners and shoppers.
And in sales, have followed a similar trajectory.
Average tenant sales productivity grew to $424 per square foot for the trailing 12 months of 7.3% from $395 per square foot with the comparable 2019 period.
On a same-center basis, average tenant sales increased 5.5%.
Categories that are performing particularly well include athleisure, youth-oriented brands, jewelry, accessories, beauty and home.
Consolidated portfolio occupancy at quarter end was 93%, a 130 basis point increase from the end of the first quarter.
We have recaptured 80,000 square feet of space due to bankruptcies and retailer restructurings through the end of the second quarter and shortly after we captured an additional 55,000 square feet, which was expected and represents negotiated early terminations for our legacy outlet brands where we collected lease termination fees.
When we were unable to achieve desired rents, our strategic approach to leasing included shortening term to enable us to reprice or repopulate our real estate sooner and preserving variable rent upside by reducing breakpoints and increasing variable rent pay rates.
Some deals that were completed during the height of COVID uncertainty ultimately produced total rents that exceeded the prior contractual fixed rents.
In these cases, our rent spreads don't fully capture variable rent contributions as spreads measure the change in base rent and common area charges only.
Leasing activity continues to accelerate with over 300 new leases and renewals totaling 1.6 million square feet of leasing that commenced during the last 12 months.
As of the ended the quarter, renewals executed or in process represented 54% of the space scheduled to expire during the year.
This pace reflects our strategy to hold on some of our renewal leasing activity, while the market continues to rebound and rental rates improve.
This has proven sound as our sales and traffic, continue to build.
We continue to gain ground on our lease spreads, which represents sequential improvement from those reported as of the end of the first quarter.
Permanent leasing activity is continuing to build and we continue to pursue top-up leases as a near-term strategy.
These transactions contribute to occupancy, higher cash flow, help maintain the variety and vibrancy of our centers and provide us an opportunity to increase the value of our real estate as market conditions continue to improve.
The core tenancy of our portfolio remains apparel and footwear.
However, we are continuing to realize the tremendous appeal our centers offer to new categories and uses.
The addition of new food concepts such as sit-down restaurants, iconic cookie and cupcake brands, local micro breweries and upscale gourmet grocers have added to our place making, experiential activation and entertaining uses which have helped achieve our goal of driving shopper visits, frequency, dwell time and ultimately bigger baskets.
Welcoming these new uses to Tanger's provided the opportunity for our retailer partners to introduce their brands and concepts to a whole new shopper base.
Additionally, as part of our ESG strategy, this year we launched our small business initiative, aimed at supporting up and coming retailers in our local communities.
Through this program, we discovered compelling new retailers and brands, which have enhanced our tenant mix and provide us access to new shoppers.
We are focused on growing our non-store revenue streams, which are delivering promising results.
These initiatives include creating onsite paid sponsorship and media opportunities where brands can promote their business on center, but outside the four walls of their store.
This includes marketing opportunities on bright walls, digital directories and common area activation.
In addition to providing more on-center branding, these programs and activations create fun ways to engage our shoppers during their visits.
This revenue is captured in the other revenues line, which year-to-date is up 88% from last year and 26% over 2019.
As we continue to monetize our real estate and create additional revenue streams, we've stood up a peripheral land team to take advantage of our existing portfolio about parcels and ancillary land.
We presently have peripheral land inventory at over two-thirds of our centers and we'll opportunistically acquire additional parcels and leasing demand for these property types increase.
As an example, we have recently acquired an adjacent parcel to our Glendale, Arizona shopping center to expand our footprint at that center and provide more F&B and entertainment uses, as well as additional PayPort [Phonetic] event parking.
We continue to enhance and expand our digital initiatives as we execute our strategy to meet our customer where they are.
To further develop seamless customer experiences that connect our digital and physical space, we are expanding our online pre-shop capabilities where customers can search and feed products that are available in store in our centers.
Through our virtual shopper program, customers can shop remotely and either pick up in-store or have merchandise shipped directly to them.
We also continue to grow our Tanger flash pop-up sales and live [Phonetic] sales through our website, app and social channels, which we hosted participating retailers as we innovate discovered ways to reach customers.
Through all of our digital channels, we are providing more personalized and relevant content and this quarter we have introduced our Tanger Fashion Director who shops our brands and retailers, curates looks and post them on our social media channels.
This initiative is aimed at our loyal Tanger insiders and Tanger Club members who shop our centers with greater frequency and is designed to reach new and emerging shoppers to the brand.
By providing more enriched in visual content for the center, our goal is to drive higher frequency of shopper visits and more engagement with our virtual shops.
These digital touchpoints complement our on-center experience and help to attract new customers, particularly in younger demographics.
In summary, we continue to execute our strategic plan and focus on our core business.
We are delivering new leasing and actively pursuing new uses, new brands and new categories with a goal of increasing center occupancy.
We continue to grow and build our new revenue streams such as paid media, sponsorship and peripheral land and we are innovating new ways to reach our customer to drive center visits.
We are seeing our traffic, leasing and business development results improving rapidly and we are positioned to use this momentum to increase the value of our real estate, drive cash flow and deliver long-term growth.
We delivered strong second quarter results showing continued positive momentum.
Second quarter core FFO available to common shareholders was $0.43 per share compared to $0.10 per share in the second quarter of 2020.
Core FFO for the second quarter of 2021 includes $0.02 per share dilution from the shares issued to date and excludes a charge of $14 million or $0.13 per share for the early extinguishment of debt since we redeemed $150 million of our 2023 bonds.
Same-center NOI for the consolidated portfolio increased 87.6% for the quarter as the prior year reflects reductions in rental revenues due to the pandemic along with higher variable rents driven by better than expected tenant sales performance this year.
As we discussed last quarter, we have maintained high rent collections.
We have collected approximately 98% of contractual fixed rents build in the first half of 2021.
We have also continued to collect rents build for prior periods including amounts related to 2020 that we allowed our tenants to defer to 2021.
Through July 30, 2021, we had collected 98% of the 2020 deferred rents due to be repaid in the first half of 2021.
During the second quarter, we opportunistically raised capital using our ATM program to further reduce debt and strengthening our balance sheet.
We issued 3.1 million common shares that generated $58 million in net proceeds at a weighted average price of $18.85 per share.
Year-to-date, we sold 10 million shares and raised $187 million of equity at an average price of $18.97 per share.
As previously announced, on April 30, we completed the partial early redemption of $150 million aggregate principal amount of our 3.87% senior notes due December 2023 for $163 million in cash.
This reduction in debt improves our leverage ratio and enhances our balance sheet flexibility.
Subsequent to the redemption, $100 million remains outstanding.
We also paid down our unsecured term loan by an additional $25 million in June, bringing the outstanding balance to $300 million.
Additionally, in July, we amended and extended our unsecured lines of credit, pushing the maturity date to July 2026 including extension options and providing borrowing capacity of $520 million within an accordion feature to increase capacity to $1.2 billion.
The facility includes a sustainability metrics, tying potential interest savings to LEED and ENERGY STAR Certifications.
This further demonstrates our commitment and accountability regarding environmental initiatives.
We have no significant debt maturities until December 2023.
We have always prioritized maintaining a strong financial position.
We will continue our disciplined and prudent approach to capital allocation.
Our Board will continue to evaluate dividend distributions alongside earnings growth and our priority uses of capital include investing in our portfolio to grow NOI, reducing leverage to pre-COVID levels over time, extending debt maturities and evaluating selective growth opportunities.
Our guidance assumes current macro conditions continue through the remainder of the year and that there are no further government mandated retail shutdowns.
For the full year 2021, we expect core FFO to be in the range of $1.52 and $1.59 per share, up from our prior expectations of $1.47 to $1.57.
This guidance reflects continued sequential improvement in our business, offset by the additional dilution of approximately $0.02 per share related to the common shares sold in the second quarter, which is an addition to the $0.4 of dilution from the first quarter issuances included in our prior guidance.
Our guidance also reflects year-over-year comparisons, which get more difficult in the back half of 2021 due to higher occupancy and lower operating expenses last year, as well as lease termination fees and reserve reversals that we recognized in the second half of 2020.
Our guidance includes the 135,000 square feet of space we have recaptured-to-date through the end of July, along with potential for an additional 65,000 square feet related to bankruptcies and brandwide restructuring for the remainder of the year.
For additional details on our key assumptions, please see our release issued last night.
Operator, can we take our first question.

user
sees 2021 estimated diluted core ffo per share $1.52 - $1.59.
q2 core ffo per share $0.43.

assistant