Acquired the Y-Towers project from IES and Invester United Benefits. : Union Investment is investing €460m to develop a conference hotel, residential block and serviced apartments building complex in Amsterdam. The Hamburg-based real estate investment manager said it is buying the Y-Towers development project from IES Immobilien and Invester United Benefits. Y-Towers will be added to the portfolio of open-ended real estate fund UniImmo Europa, the manager said. The 106,000sqm building complex of two towers is being constructed next to the river in the Overhoeks district.