Jeffrey Covington
Jeffrey Covington is a senior advisor with Northmarq's National Healthcare Group. Based in Tulsa, Oklahoma, he advises healthcare real estate investors, providers, and physician groups on investment sales, recapitalizations, and strategic capital planning across both Debt + Equity. His work spans the full capital life cycle of healthcare assets — acquisitions, dispositions, sale-leasebacks, and refinancings — across a range of property types including ambulatory surgery, medical office, skilled nursing, behavioral health, and acute-care hospital facilities.
Jeffrey brings a distinctive lender's underwriting discipline to the advisory side of the table. He is skilled at translating complex clinical, operational, and reimbursement risk into institutional investment and capital decisions, drawing on Centers for Medicare and Medicaid Services reimbursement analytics — including Patient-Driven Payment Model rate methodology, Medicaid rate-setting, and supplemental payment programs — along with operator benchmarking and ownership analysis. He has a particular focus on serving physicians and independent provider groups, helping them preserve autonomy and control as they structure real estate and capital decisions that support long-term independence.
Prior to joining Northmarq, Jeffrey served as senior vice president and director of healthcare research and data analytics at BOK Financial in Tulsa, Oklahoma, where he led research, analytics, and sales enablement for a $3.8 billion multi-sector healthcare lending portfolio. The portfolio spanned skilled nursing, assisted living, behavioral health, ambulatory surgery centers, specialty surgical hospitals, and health systems. In this role, he served as the primary underwriting intelligence partner to relationship managers, credit officers, and capital markets leadership across acquisition financings, refinancings, restructurings, municipal bond financings, and syndicated credit facilities.
Jeffrey also spent nearly a decade as operating partner of Jacobs Capital Group, a private, multi-sector investment platform based in Atlanta, Georgia, with concurrent interests in healthcare development, specialty insurance, commercial real estate, and technology. There, he was accountable for day-to-day operations and capital deployment across portfolio companies. He built and scaled a healthcare-focused captive insurance and risk-advisory platform from approximately $10 million to $75 million in annual written premium, serving ambulatory surgery centers, specialty surgical hospitals, neurosurgical spine programs, and national physician group platforms in cardiovascular care, ophthalmology, and OB/GYN. He served as a principal in the greenfield development of an acute-care surgical hospital — including emergency department, surgical suites, and imaging center — leading equity capitalization, entity structuring, regulatory approvals, and payer contract negotiations. He was also a principal in an approximately 250-unit multifamily development, held a non-voting board seat on a medical malpractice risk retention group, and served on its claims and investment committees. Additionally, Jeffrey was an operating partner at Brandfolder through multiple institutional fundraising rounds and its $150 million-plus acquisition by Smartsheet.
Jeffrey holds a master's degree in mineral economics from Colorado School of Mines in Golden, Colorado, and a bachelor's degree in international studies and economics from the University of Denver. He is currently pursuing his real estate license in Oklahoma.
