An Atlanta-based apartment developer is targeting the suburbs for its latest multifamily project.

Greystar has purchased a seven-acre tract within Halcyon, a massive, 135-acre planned mixed-use project off McFarland Parkway in Forsyth County – north of Avalon along Georgia 400 — that is being developed by RocaPoint Partners. In turn, Greystar is planning a 300-unit apartment project called Elan Halcyon and another 160-unit project called Everleigh Halcyon that will be targeting active seniors, 55 years old and older.

RocaPoint sold the land to Greystar for an undisclosed sum, New South Realty principal broker Douglas Calderwood said. Calderwood brokered the transaction for RocaPoint earlier this month. Greystar also is developing a parking deck for the apartments.

RocaPoint Partners' $370M mixed-use project also is set to include more than 500K SF of office and retail, a dine-in CMX upscale movie theater, two hotels, townhomes, for-sale single-family houses and 50 acres of green space.