Branch Properties' Nick Telesca spoke with us about his views on the multifamily market in Atlanta, highlighting comments he made last week at the REGA event in Buckhead. Nick says apartments will trade for as  low as 6 caps, as long as money is so cheap to borrow: ?The pricing has been supported by this Freddie and Fannie financing. As long as you're getting 10-year, fixed-rate debt, which is today at 5%, you're going to see cap rates right about 100 basis points above the debt.? With apartment fundamentals improving, Branch is still in the market to acquire properties. But it's also considering new development projects, including a potential Whole Foods-anchored shopping center in Knoxville and an undisclosed apartment community in Atlanta. Both these projects were shelved by Branch in ?07, Nick says. With no new development really taking place, he says he can build out of the ground at an  8 cap on multifamily  and 9 cap on retail. And with the market still commanding sub 7 caps, that could be a strong investment play.