A European rented residential giant is considering breaking itself up and putting either some or all of its portfolio, a big chunk of which is in the U.S. and UK, up for sale.

Akelius said the company is considering the sale of some of its assets in Sweden, Denmark and Germany after CoStar had earlier reported that it was considering the sale of the business as a whole. CBRE is advising it on the process.

The company had a portfolio consisting of 44,348 rented residential apartments that were valued at €12.5B ($14.9B, £10.7B) at the end of March, according to a company report. The portfolio had a net asset value of €6.6B, with a loan-to-value ratio of 39%. The portfolio produced rental income of €125M in the first quarter.

Stockholm and Berlin are the two biggest cities in Akelius’ portfolio, accounting for 39% of its assets by value. But it also has a significant U.S. and UK presence with 8% (€1B) of its assets in New York, the same amount in London, 5% (€625M) in Boston and 4% (€500M) in Washington, D.C. Another 8% (€1B) is in Toronto.

Akelius is owned by a charitable foundation that owns 84% of the shares in the company, with the rest owned by external investors. The company has an interesting history.

The founder, Roger Akelius, grew up in Stora Mellby in the southwestern part of Sweden in the 1950s. At 11 years old he started his first summer job at a dairy, the company’s website says. With his first two paychecks he bought a camera and a tent. With his third paycheck he bought his first property, a summer cottage. He became a financial lecturer and author, and then in 1994 became a property investor, and grew Akelius from there.