Spain's ailing real estate sector faces one of its toughest tests to date, as time runs out for two of its biggest companies in make-or-break talks with potential saviors.
Inmobiliaria Colonial SA (COL.MC) and Habitat Inmobiliaria SA are both working against the clock to avoid bankruptcy. Their challenges also mirror the difficulties of companies that took up loans for string of pricey acquisitions before the Spanish red-hot real estate market soured.
