The National Asset Management Agency has appointed a statutory receiver to seven hotel properties associated with property developer Paddy Kelly.
NAMA holds the properties, which operate as hotels, as security on loans raised by Mr Kelly and more than 100 other investors who formed property syndicates with him.
Under the NAMA Act the agency has appointed Kieran Wallace of accountants KPMG as statutory receiver.
Mr Wallace said his appointment would have no direct impact on the day-to-day operation of the hotels. He said he hoped to work alongside the operating companies that run the properties as hotels.
The properties are a hotel in Ashbourne Co Meath operated by Marriott, a property in Talbot Street Dublin operated by Days Inn, three properties operated by Clarion - at the IFSC in Dublin, at Dublin airport and at Liffey Valley, and a Maldron operated property in Citywest Dublin.
Mr Wallace was also appointed receiver over a number of hotel suites in Maldron hotels in Cardiff Lane, Dublin and in Limerick.
Separately RTÉ understands that NAMA has appointed Savills estate agency to sell a number of properties linked to Paddy Kelly led syndicates in Blackrock, Smithfield and Clonskeagh.
This is the third time NAMA has appointed a receiver over a property connection.
