The National Assets Management Agency is believed to have lent €10m for the completion of an unfinished apartment block in south Dublin that is currently in receivership.

The apartment block was part of the Beacon South Quarter in Sandyford being built by Landmark Enterprises, which went into receivership in 2010.

The company is owned by developer Patrick Shovlin and hoteliers Patrick and Anthony Fitzpatrick.

A planning application published today proposes alterations to the existing permission, involving extra residential units instead of some retail and office space.

It is understood that NAMA has lent the receivers the money to finish the block with approximately 80 apartments.

Last year, NAMA sold a finished block in Beacon South containing 58 apartments to the voluntary housing organisation Cluid, with 34 of the units earmarked for social housing.