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SCHAUMBURG, IL-Hartford, CT-based Cornerstone Real Estate Advisers has completed the sale of the 428-unit Lakes of Schaumburg apartment community here to a joint venture. Trecap Partners LLC, based in Conshohocken, PA and Naperville, IL-based Marquette Property Investments partnered to close on the property for $47 million, sources say.

The 23-year-old complex has 27 two- and three-story buildings, as well as two clubhouses, two outdoor heated pools, a jogging trail and a fitness center. The garden-style property, at 801 Belinder Ln., is about 96% occupied. Rents run from about $870 to $1,317 per month.

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