The team had a solid quarter, producing such stats as funds from operations came in above guidance, up 9% compared to second quarter last year.
This marks 29 consecutive quarters of higher FFO per share as compared to the prior year quarter, truly a long-term trend.
And for the year, FFO per share is up 9.5%.
Our quarterly occupancy was high, averaging 96.6%, leaving us 97.5% leased and 97% occupied at quarter end, ahead of our projections.
Our occupancy is benefiting from a healthy market with accelerating e-commerce and last-mile delivery trends, also benefiting our occupancy as a high year-to-date retention rate of 84%.
Re-leasing spreads were strong for the quarter at 13.8% GAAP and 7.9% cash.
Year-to-date leasing spreads are higher at 20.1% GAAP and 11.5% cash.
Finally, same-store NOI was up 4.1% for the quarter and 3.9% year-to-date.
I'm grateful we ended the quarter generally full at 97.5% leased, while Houston, our largest market at 13.8% of rents, is 97.9% leased, has roughly a 4% square footage roll through year-end and a five-month average collection rate on rents of over 99%.
For July thus far, we've collected 95% of rents.
Brent will speak to our budget assumptions, but I'm pleased that with our second quarter results and a realistic plan, we can reach $5.28 per share in FFO.
We are only $0.02 shy of our original pre-pandemic expectations.
In other words, we're not forecasting new spec developments at this time.
FFO per share for the second quarter exceeded our guidance range at $1.33 per share and, compared to second quarter 2019 of $1.22, represented an increase of 9%.
During the second quarter, we raised $30 million of equity at an average price of $123 per share.
And earlier this month, we agreed to terms on two senior unsecured private placement notes totaling $175 million.
The $100 million note has a 10-year term with a fixed interest rate of 2.61%.
The second note is $75 million on a 12-year term with a fixed interest rate of 2.71%.
Our debt-to-total market capitalization is 21%, debt-to-EBITDA ratio is 5.1 times, and our interest and fixed charge coverage ratios are over 7.2 times.
We have collected 98.1% of our second quarter revenue and entered into deferral agreements for an additional 0.8%, bringing our total collected and deferred to 99% for the second quarter.
As for July, we have collected 95.5% of rents thus far and have entered into deferral agreements on an additional 0.7%, bringing the total of collected and deferred for the month to 96.2%.
Last April, we reported that 26% of our tenants have requested some form of rent deferment.
In the three subsequent months, that has only risen to 29%.
We have denied 79% of the request, are in various stages of consideration on 8% and have entered into some form of deferral agreement with 13% of the request.
The rent deferred this far totals $1.5 million, which only represents approximately 0.4% of our estimated 2020 revenues.
As a result, our actual performance and revised assumptions for the remainder of the year increased our FFO earnings guidance by 2.1% from a midpoint of $5.17 per share to $5.28 per share or a 6% increase over 2019.
Among the changes were an increase in average occupancy from 95.2% to 96% and a decrease in reserves for uncollectible rent from $3.8 million to $3.6 million.
Note that the reserve for potential bad debt for the third and fourth quarter of $2.4 million is not attributable to specific tenants.
Other notable revisions include a lower average interest rate on new debt and the increase of equity issuances by $95 million.

Summary:
In other words, we're not forecasting new spec developments at this time.
FFO per share for the second quarter exceeded our guidance range at $1.33 per share and, compared to second quarter 2019 of $1.22, represented an increase of 9%.