Mitsui Fudosan Co., Japan's largest real estate developer, is arranging on its own behalf a deal backed by the future receivables from the sale of as yet-unfinished condominiums.

The 10 billion ($91 million) transaction will be backed by the eventual sale of 480 units in eight buildings located in Tokyo, which Mitsui expects to build over the next two years, according to Japanese media citing company officials. The transaction has been guaranteed by Tokio Marine & Fire Insurance Co.

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