PartnerFacts
Data last updated: Oct 23, 2026, 5:45 PM ETLatest filing: Oct 22, 2026Now: Oct 24, 2026, 7:34 AM ET

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David Herzer

Named as an officer, director or promoter on SEC Form D filings · CA · May 8, 2020 → Mar 28, 2025

6deals (issuers)
$408.3Mreported sold
2,127investors
8Form D filings
2020–2025years on file
Follow this personLook further ↓PDF

Data last updated Oct 23, 2026, 5:45 PM ET · Courts (RECAP) last checked: Oct 24, 2026, 2:46 AM ET · SEC enforcement last checked: covered by the index scan as of Oct 24, 2026, 2:50 AM ET

The short version

David Herzer is listed as an executive officer, director, and promoter on 8 SEC Form D filings by 6 issuers between May 2020 and Mar 2025. Largest by amount reported sold: SOCOTRA FUND, LLC (Sacramento, CA — reits and finance — 2025; $257.5M reported sold to 1,255 investors), HERZER FINANCIAL MORTGAGE FUND, LLC (Sacramento, CA — reits and finance — 2023; $76.4M reported sold to 343 investors), SOCOTRA OPPORTUNITY FUND, LLC (Sacremento, CA — reits and finance — 2025; $59.8M reported sold to 352 investors), HFS Fund IV, LLC (Sacramento, CA — other real estate — 2024–2025; $14.6M reported sold to 52 investors), Herzer Financial Mortgage REIT LLC (Sacramento, CA — reits and finance — 2023; 125 investors reported) and 1 more (all listed below).

What this means A repeat sponsor — 6 separate companies raised money with this person listed as executive officer, director, and promoter, over about 5 years. Across those companies the filings report $408.3M sold in total.

Listed alongside Adham Sbeih (7 shared filings), Nancy Gann (7 shared filings), Paul Cotter (7 shared filings), Tony Ingoglia (6 shared filings), Roy Malone (3 shared filings) and 1 others.

What this means These are the other officers, directors or promoters the companies named on the same forms — the team around David. Each name links to their own page.

All 6 issuers belong to the sponsor group Socotra (10 issuers, $423.9M reported sold, 2013–2026).

What this means A sponsor group is one team that sets up a new company for each deal. Socotra has 10 companies on file and $423.9M reported sold in total — the group page shows the whole track record in one place.

Public records searched: federal courts (CourtListener / RECAP), SEC enforcement releases, state securities regulators (AK, AL, AR, AZ, CA, CT, DE, FINRA, GA, HI, ID, IL, KS, KY, LA, MA, MD, ME, MI, MO, MS, MT, NASAA, NC, ND, NH, NM, NV, OK, OR, PA, RI, SC, SD, TN, TX, VT, WA, WI, WV, WY) — 6 court cases matching the name, 6 bankruptcy cases matching the name listed in Key records below.

What this means 12 records came back, including 1 court case still open — open cases can take years and cost money. Each one is listed below with a link to the original document and a line saying why it matched. A name match is not proof it is the same person or company — read the why line and the document. Being sued or named in a release is an accusation, not a finding.

We compared 8 public filings for David Herzer and found 14 differences, 4 worth asking the sponsor about: Bankruptcy case: DAVID J. HERZER and VERONICA S. KIRCHOFF; Form D filed 2,390 days after the first sale; and more below.

What this means These are differences between the sponsor's own SEC filings — both values, dates and sources are listed in Key records, section 4. Most have ordinary explanations; ask the sponsor.

What the community is saying

Community search for David Herzer has not run yet — it is joining a line of 24,129 names; searches run around the clock at the hosts' allowed rate. Searched so far: 638 names.

Community comments are quoted as written by their authors. Sources searched: BiggerPockets forums (via DuckDuckGo, Brave, Bing and BiggerPockets search) and Reddit (search feed + public archive).

Key records

Five things investors ask first. Items still in human review are counted, not shown.

1. Lawsuits

6 cases: 1 open, 2 closed (disposition not in docket feed), 1 judgment, 2 dismissed

Wickens Herzer Panza Co. v. PNC Bank National Association open
District Court, N.D. Ohio · No. 1:26-cv-01020 · Filed May 1, 2026 · Nature of suit: 190 Contract: Other · Cause: 28:1332 Diversity-Contract Dispute
Role of Wickens Herzer Panza Co.: Plaintiff · Outcome: Open — no termination date on the docket (bulk snapshot 2026-09-30) Docket on CourtListener ↗
same rare surname (2 people in Form D filings, 15 federal dockets); different first name (wickens); court in OH (not a filing state)
Herzer v. FDIC as Receiver for FIRST REPUBLIC BANK closed
District Court, C.D. California · No. 2:23-cv-05078 · Filed Jun 26, 2023 · Closed Jul 7, 2023
Role of Herzer: Plaintiff · Outcome: Terminated 2023-07-07 (disposition not included in the bulk docket feed — see docket) Docket on CourtListener ↗
same rare surname (2 people in Form D filings, 15 federal dockets); surname only in the caption; court in the person's filing state (CA)
HERZER v. PENNSYLVANIA AMERICAN WATER COMPANY closed
District Court, W.D. Pennsylvania · No. 2:22-cv-01531 · Filed Oct 31, 2022 · Closed Feb 6, 2023
Role of HERZER: Plaintiff · Outcome: Terminated 2023-02-06 (disposition not included in the bulk docket feed — see docket) Docket on CourtListener ↗
same rare surname (2 people in Form D filings, 15 federal dockets); surname only in the caption; court in PA (not a filing state)
David T. Herzer v. Wells Fargo Bank, N.A. judgment
District Court, C.D. California · No. 2:18-cv-06199 · Filed Jul 17, 2018 · Closed Nov 2, 2018 · Nature of suit: 220 Real Property: Foreclosure · Cause: 28:1441 Notice of Removal - Petition to Quiet Title
Role of David T. Herzer: Plaintiff · Outcome: Terminated 2018-11-02 — FJC Integrated Database disposition: Other; judgment for defendant Docket on CourtListener ↗
same rare surname (2 people in Form D filings, 15 federal dockets); first name matches; court in the person's filing state (CA)
Manuela Herzer v. Shari Redstone dismissed
District Court, C.D. California · No. 2:17-cv-07545 · Filed Oct 16, 2017 · Closed Feb 5, 2019 · Nature of suit: 470 Racketeer/Corrupt Organization · Cause: 18:1962 Racketeering (RICO) Act
Role of Manuela Herzer: Plaintiff · Outcome: Terminated 2019-02-05 — FJC Integrated Database disposition: Dismissed: want of prosecution Docket on CourtListener ↗
same rare surname (2 people in Form D filings, 15 federal dockets); different first name (manuela); court in the person's filing state (CA)
United States v. Herzer Inc dismissed
District Court, S.D. Ohio · No. 3:93-cv-00376 · Filed Oct 4, 1993 · Closed Nov 17, 1993 · Nature of suit: 890 Other statutory actions
Role of Herzer Inc: Defendant · Outcome: Terminated 1993-11-17 — FJC Integrated Database disposition: Dismissed: other Docket on CourtListener ↗
same rare surname (2 people in Form D filings, 15 federal dockets); surname only in the caption; court in OH (not a filing state)
What was searched

Sources searched: CourtListener bulk data (RECAP dockets as of 2026-09-30; recall-first rule 10-24) — federal district + bankruptcy courts State courts: not covered (one-tap state court links under Look further). PACER: not searched. · Last checked Oct 24, 2026, 2:46 AM ET.

Court records show docket facts only; we never restate allegations as facts. Outcome wording comes from the docket feed; where it does not state a disposition we say so.

State courts: not covered (one-tap state court links under Look further). No state offers a lawful automated statewide source PartnerFacts can use today. Texas (re:SearchTX) terms prohibit storing results in a database open to third parties; New York (WebCivil) and Massachusetts (MassCourts) require a browser check that blocks scripted queries; California has no statewide index (58 county portals; Rule of Court 2.503 grants name-based access case by case); Florida, Utah and Illinois offer paid or partial access whose terms for automated use are unverified. Washington (dw.courts.wa.gov; bulk index reports under a JISC data-dissemination agreement), Delaware (CourtConnect; Court of Chancery not included) and Arizona (apps.azcourts.gov/publicaccess, which has an official channel to request high-volume access) are the candidates; PartnerFacts will request written permission before any automated search. Federal courts are searched through CourtListener / RECAP.

2. Regulatory actions

None found in sources searched — SEC enforcement releases (index scan as of Oct 24, 2026, 2:50 AM ET) · state securities regulators: VA (crawled Oct 23, 2026)

What was searched

SEC enforcement searched: SEC litigation releases and administrative proceedings — respondent names in the sec.gov index titles (30,205 releases, 1995-09-19 to 2026-10-23); release text is read only to confirm a candidate. Names that appear only in the body of a release are not found. — Searched SEC litigation releases and administrative proceedings (1995→ / 2007→) (30,205 records as of Oct 24, 2026, 2:50 AM ET) — nothing matched David Herzer..

State securities regulators: Securities regulators searched (3,318 actions): AZ Corporation Commission Securities Division (411 actions, 2017–2026), CA DFPI (25 actions, 2007–2024; listing starts 2002 — 16 of 12,159 DFPI respondent pages read so far; sponsor-name matches are read first), DE DOJ Investor Protection Unit (257 actions, 1987–2026), TX State Securities Board (586 actions, 2006–2026), WA DFI (2,039 actions, 2001–2026) — last crawled Oct 23, 2026, 9:57 PM ET. No machine-readable public listing today for CO, FL, IA, IN, MN, NE, NJ, NY, OH, UT, VA (see docs/state-regulators.md).

3. Bankruptcies

6 cases: 6 closed (disposition not in docket feed)

Kristen L. Herzer-Smith closed
United States Bankruptcy Court, D. New Jersey · No. 19-29341 · Filed Oct 11, 2019 · Closed Oct 14, 2020
Role of Kristen L. Herzer-Smith: Debtor · Outcome: Case closed 2020-10-14 (disposition not included in the bulk docket feed — see docket) Docket on CourtListener ↗
same rare surname (2 people in Form D filings, 15 federal dockets); different first name (kristen); court in NJ (not a filing state)
Terry Smith and Kristen Herzer-Smith closed
United States Bankruptcy Court, D. New Jersey · No. 19-16372 · Filed Mar 29, 2019 · Closed Jan 31, 2020
Role of Terry Smith and Kristen Herzer-Smith: Debtor · Outcome: Case closed 2020-01-31 (disposition not included in the bulk docket feed — see docket) Docket on CourtListener ↗
same rare surname (2 people in Form D filings, 15 federal dockets); different first name (kristen); court in NJ (not a filing state)
DAVID J. HERZER and VERONICA S. KIRCHOFF closed
United States Bankruptcy Court, D. Nevada · No. 07-50899 · Filed Jul 11, 2007 · Closed Jul 2, 2008
Role of DAVID J. HERZER and VERONICA S. KIRCHOFF: Debtor · Outcome: Case closed 2008-07-02 (disposition not included in the bulk docket feed — see docket) Docket on CourtListener ↗
same rare surname (2 people in Form D filings, 15 federal dockets); first name matches; court in NV (not a filing state)
Amici Online Investments LLC v. Herzer closed
United States Bankruptcy Court, W.D. Texas · No. 99-01164 · Filed Oct 26, 1999 · Closed Feb 11, 2000
Role of Herzer: Defendant · Outcome: Case closed 2000-02-11 (disposition not included in the bulk docket feed — see docket) Docket on CourtListener ↗
same rare surname (2 people in Form D filings, 15 federal dockets); surname only in the caption; court in TX (not a filing state)
Eden Matrix Online Service Inc v. Herzer closed
United States Bankruptcy Court, W.D. Texas · No. 99-01165 · Filed Oct 26, 1999 · Closed Feb 11, 2000
Role of Herzer: Defendant · Outcome: Case closed 2000-02-11 (disposition not included in the bulk docket feed — see docket) Docket on CourtListener ↗
same rare surname (2 people in Form D filings, 15 federal dockets); surname only in the caption; court in TX (not a filing state)
DAVID JAMES HERZER and DIANE MARIE HERZER closed
United States Bankruptcy Court, D. Nevada · No. 95-32028 · Filed Nov 17, 1995 · Closed Jun 24, 1997
Role of DAVID JAMES HERZER and DIANE MARIE HERZER: Debtor · Outcome: Case closed 1997-06-24 (disposition not included in the bulk docket feed — see docket) Docket on CourtListener ↗
same rare surname (2 people in Form D filings, 15 federal dockets); different first name (james); court in NV (not a filing state)
What was searched

Sources searched: Federal bankruptcy courts via CourtListener / RECAP archive (federal district courts, federal bankruptcy courts). State courts: not covered (one-tap state court links under Look further). PACER: not searched (RECAP only). · Last checked Oct 24, 2026, 2:46 AM ET.

Court records show docket facts only; we never restate allegations as facts. Outcome wording comes from the docket feed; where it does not state a disposition we say so.

State courts: not covered (one-tap state court links under Look further). No state offers a lawful automated statewide source PartnerFacts can use today. Texas (re:SearchTX) terms prohibit storing results in a database open to third parties; New York (WebCivil) and Massachusetts (MassCourts) require a browser check that blocks scripted queries; California has no statewide index (58 county portals; Rule of Court 2.503 grants name-based access case by case); Florida, Utah and Illinois offer paid or partial access whose terms for automated use are unverified. Washington (dw.courts.wa.gov; bulk index reports under a JISC data-dissemination agreement), Delaware (CourtConnect; Court of Chancery not included) and Arizona (apps.azcourts.gov/publicaccess, which has an official channel to request high-volume access) are the candidates; PartnerFacts will request written permission before any automated search. Federal courts are searched through CourtListener / RECAP.

4. Differences between public sources

Comparisons cover issuers and sponsor groups — see the issuer pages under Deals

14 differences found between the filings for David Herzer — 4 worth asking about (compared 8 filings on Oct 24, 2026)

Worth asking · Jul 11, 2007 – Jul 2, 2008

Bankruptcy case: DAVID J. HERZER and VERONICA S. KIRCHOFF — filed Jul 11, 2007

United States Bankruptcy Court, D. Nevada docket "DAVID J. HERZER and VERONICA S. KIRCHOFF" filed Jul 11, 2007, closed Jul 2, 2008. David Herzer is listed as Debtor ("DAVID J. HERZER and VERONICA S. KIRCHOFF"). Our match estimate: 50%.

What this means A bankruptcy filing was found. Many are old or personal and have nothing to do with the deal — but ask what it was and when it closed.

Docket · United States Bankruptcy Court, D. Nevada ↗
Sources
Note · Oct 26, 1999 – Feb 11, 2000

Bankruptcy case: Amici Online Investments LLC v. Herzer — filed Oct 26, 1999

United States Bankruptcy Court, W.D. Texas docket "Amici Online Investments LLC v. Herzer" filed Oct 26, 1999, closed Feb 11, 2000. David Herzer is listed as Defendant ("Herzer"). Our match estimate: 40%.

What this means A bankruptcy filing was found. Many are old or personal and have nothing to do with the deal — but ask what it was and when it closed.

Docket · United States Bankruptcy Court, W.D. Texas ↗
Sources
Note · Oct 26, 1999 – Feb 11, 2000

Bankruptcy case: Eden Matrix Online Service Inc v. Herzer — filed Oct 26, 1999

United States Bankruptcy Court, W.D. Texas docket "Eden Matrix Online Service Inc v. Herzer" filed Oct 26, 1999, closed Feb 11, 2000. David Herzer is listed as Defendant ("Herzer"). Our match estimate: 40%.

What this means A bankruptcy filing was found. Many are old or personal and have nothing to do with the deal — but ask what it was and when it closed.

Docket · United States Bankruptcy Court, W.D. Texas ↗
Sources
Note · Oct 4, 1993 – Jun 26, 2023

4 court cases name David Herzer — 1 as defendant

By role: plaintiff in 3, defendant in 1. Newest: "Herzer v. FDIC as Receiver for FIRST REPUBLIC BANK" (District Court, C.D. California, Jun 26, 2023); "HERZER v. PENNSYLVANIA AMERICAN WATER COMPANY" (District Court, W.D. Pennsylvania, Oct 31, 2022); "David T. Herzer v. Wells Fargo Bank, N.A." (District Court, C.D. California, Jul 17, 2018). Some of these are name matches with a match estimate below 95% — check each docket.

What this means Several court cases name this subject. Some are routine business suits. Ask what each was about and how it ended.

Docket · Herzer v. FDIC as Receiver for FIRST REPUBLIC BANK ↗Docket · HERZER v. PENNSYLVANIA AMERICAN WATER COMPANY ↗Docket · David T. Herzer v. Wells Fargo Bank, N.A. ↗Docket · United States v. Herzer Inc ↗
Sources
Note · May 8, 2020 – Nov 29, 2023

David Herzer appears on 2 deals that stopped filing before reaching their target

Herzer Financial Mortgage REIT LLC (last filing Nov 29, 2023; $0 sold of $125,000); HFS Income Fund, LLC (last filing May 8, 2020; $0 sold of $6,500,000). Each has no filing in more than two years and reported under half its target sold.

What this means An issuer whose last filing is more than two years old and reported under half its target sold. The raise may have closed early or quietly stopped. Ask what happened to each.

Herzer Financial Mortgage REIT LLC — PartnerFacts page ↗HFS Income Fund, LLC — PartnerFacts page ↗
Sources
Worth asking · Aug 1, 2017 – Feb 16, 2024

Form D filed 2,390 days after the first sale — HFS Fund IV, LLC

The filing says the first sale was Aug 1, 2017. The Form D was filed Feb 16, 2024 — 2,390 days later. The rule: a Form D is generally due within 15 days after the first sale, so this one is 2,375 days past that.

What this means The notice went in months after money was taken in. Late notices are common and carry no penalty by themselves, but it is fair to ask the sponsor why the paperwork lagged.

Form D · Feb 16, 2024 ↗HFS Fund IV, LLC — PartnerFacts page ↗
Sources
Worth asking · Oct 4, 2004 – Oct 16, 2023

Form D filed 6,951 days after the first sale — HERZER FINANCIAL MORTGAGE FUND, LLC

The filing says the first sale was Oct 4, 2004. The Form D was filed Oct 16, 2023 — 6,951 days later. The rule: a Form D is generally due within 15 days after the first sale, so this one is 6,936 days past that.

What this means The notice went in months after money was taken in. Late notices are common and carry no penalty by themselves, but it is fair to ask the sponsor why the paperwork lagged.

Form D · Oct 16, 2023 ↗HERZER FINANCIAL MORTGAGE FUND, LLC — PartnerFacts page ↗
Sources
Note · Oct 30, 2023 – Nov 29, 2023

Form D filed 30 days after the first sale — Herzer Financial Mortgage REIT LLC

The filing says the first sale was Oct 30, 2023. The Form D was filed Nov 29, 2023 — 30 days later. The rule: a Form D is generally due within 15 days after the first sale, so this one is 15 days past that.

What this means A late notice is common and carries no penalty by itself. It is worth asking the sponsor why the paperwork lagged.

Form D · Nov 29, 2023 ↗Herzer Financial Mortgage REIT LLC — PartnerFacts page ↗
Sources
Note · Oct 30, 2023 – Nov 29, 2023

No amendment in the last 12 months on an offering that may still be open — Herzer Financial Mortgage REIT LLC (latest filing Nov 29, 2023)

The latest filing for this offering is dated Nov 29, 2023 (first sale Oct 30, 2023). It reports $0 sold of $125,000 offered. No later amendment is in our index as of Oct 24, 2026.

What this means SEC rules expect a yearly amendment while an offering is still going. The raise may simply have ended — a Form D does not say when it closed. Ask the sponsor whether the offering closed, when, and at what amount.

Form D · Nov 29, 2023 ↗Herzer Financial Mortgage REIT LLC — PartnerFacts page ↗
Sources
Worth asking · Oct 16, 2023 – Sep 30, 2026

4 people are no longer listed on a later amendment

David Herzer is no longer listed on the Sep 30, 2026 amendment — HFS Fund IV, LLC · David Herzer is no longer listed on the Mar 28, 2025 amendment — SOCOTRA FUND, LLC · David Herzer is no longer listed on the Mar 28, 2025 amendment — SOCOTRA OPPORTUNITY FUND, LLC · David Herzer is no longer listed on the Oct 10, 2024 amendment — HERZER FINANCIAL MORTGAGE FUND, LLC

What this means People leave; the issuer lists only current officers, directors and promoters. Ask why and who replaced them.

Form D/A · Mar 28, 2025 ↗Form D/A · Sep 30, 2026 ↗David Herzer — PartnerFacts page ↗HFS Fund IV, LLC — PartnerFacts page ↗
Sources
Note · May 8, 2020 – Nov 29, 2023

David Herzer is written 2 different ways on the filings

listed as "David Herzer" on 5 filings (from May 8, 2020), and "David K. Herzer" on 3 filings (from Nov 29, 2023).

What this means Same person, written differently — a middle name or suffix left off, or spelled another way. It is normal, but check that the full legal name matches your subscription documents.

Form D · May 8, 2020 ↗Form D · Nov 29, 2023 ↗David Herzer — PartnerFacts page ↗
Sources
Note · Sep 12, 2022 – Mar 26, 2025

Industry group changed between filings — SOCOTRA FUND, LLC

"Pooled Investment Fund" (Sep 12, 2022); then "REITS and Finance" (Mar 26, 2025 to Oct 6, 2026).

What this means The issuer described its business differently on different forms. Often it is just a different box ticked; sometimes the deal itself changed. Ask which business your money is in.

Form D · Sep 12, 2022 ↗Form D/A · Mar 26, 2025 ↗SOCOTRA FUND, LLC — PartnerFacts page ↗
Sources
Note · Sep 13, 2022 – Mar 24, 2025

Industry group changed between filings — SOCOTRA OPPORTUNITY FUND, LLC

"Pooled Investment Fund" (Sep 13, 2022); then "REITS and Finance" (Mar 24, 2025 to Oct 6, 2026).

What this means The issuer described its business differently on different forms. Often it is just a different box ticked; sometimes the deal itself changed. Ask which business your money is in.

Form D · Sep 13, 2022 ↗Form D/A · Mar 24, 2025 ↗SOCOTRA OPPORTUNITY FUND, LLC — PartnerFacts page ↗
Sources
Note · Oct 16, 2023 – Oct 10, 2024

Industry group changed between filings — HERZER FINANCIAL MORTGAGE FUND, LLC

"Other Real Estate" (Oct 16, 2023); then "REITS and Finance" (Oct 10, 2024 to Sep 30, 2026).

What this means The issuer described its business differently on different forms. Often it is just a different box ticked; sometimes the deal itself changed. Ask which business your money is in.

Form D · Oct 16, 2023 ↗Form D/A · Oct 10, 2024 ↗HERZER FINANCIAL MORTGAGE FUND, LLC — PartnerFacts page ↗
Sources
What is compared

What is compared: every Form D and D/A we hold for this subject, side by side — filing dates vs. first-sale dates (the 15-day rule), amendment timing on open offerings (the yearly-amendment expectation), amounts sold, investor counts, offering amounts and minimums across amendments, industry and size bands, addresses, how each person's name and role is written, paid sellers' CRD numbers, and (for groups) where the member companies were formed and sit. Everything is as filed by the issuer; the SEC does not check it. Differences are common and usually have ordinary explanations — we show both values, the dates, and the source so you can ask. As of Oct 24, 2026.

5. Money to insiders

1 of 6 offerings reports sales commissions totalling $6,250; 0 report finder's fees; 0 report proceeds to related persons.

Offering (latest filing)Sales commissionsFinder's feesTo insidersPaid to sell itSource
Mar 28, 2025 D/A
HFS Fund IV, LLC
File 021-505443
$0$0$0None listed on this filingEDGAR ↗
Mar 26, 2025 D/A
SOCOTRA FUND, LLC
File 021-458609
$0$0$0None listed on this filingEDGAR ↗
Mar 24, 2025 D/A
SOCOTRA OPPORTUNITY FUND, LLC
File 021-458648
$0$0$0None listed on this filingEDGAR ↗
Nov 29, 2023 D
Herzer Financial Mortgage REIT LLC
File 021-498372
$6,250$0$0Charles B. Harrison BrokerCheck CRD 307155 ↗
via H & L Equities, LLC (CRD 113794 ↗)

Scott Harrison BrokerCheck CRD 4981070 ↗
via H & L Equities, LLC (CRD 113794 ↗)

Patrick J. Whelchel BrokerCheck CRD 5389090 ↗
via H & L Equities, LLC (CRD 113794 ↗)

Lori Mayfield BrokerCheck CRD 4899271 ↗
via H & L Equities, LLC (CRD 113794 ↗)
EDGAR ↗
Oct 16, 2023 D
HERZER FINANCIAL MORTGAGE FUND, LLC
File 021-494753
$0$0$0None listed on this filingEDGAR ↗
May 8, 2020 D
HFS Income Fund, LLC
File 021-366536
$0$0$0None listed on this filingEDGAR ↗
How this is counted

Counts come from Form D Items 12–15 on the filings in our index (latest filing per offering; one offering = one SEC file number; an amendment updates its offering rather than adding one). "To insiders" = gross proceeds used for payments to executive officers, directors or promoters. "—" = not reported on that filing. Amounts marked (est.) were reported as estimates. "Paid to sell it" = sales compensation recipients named on that filing (Item 12), each linked to FINRA BrokerCheck when a CRD number is reported.

Counted across every filing this person is listed on (latest filing per offering, per issuer).

Deals 6

Every issuer that named David Herzer on a Form D, newest first. A Form D is the notice a company files after it starts selling a private investment.

HF
Other Real Estate · group: Socotra

HFS Fund IV, LLC

Sacramento, CA · Feb 16, 2024 → Mar 28, 2025 · 3 filings
  • Mar 28, 2025 · D/A · $13,963,591 sold of $250,000,000 · 52 investors · min. $5,000 · role: Executive Officer, Director, Promoter (Vice President of Herzer Financial Services, Inc , an affiliate) EDGAR ↗
  • Mar 26, 2025 · D/A · $13,963,591 sold of $250,000,000 · 52 investors · min. $5,000 · role: Executive Officer, Director, Promoter (Vice President of Herzer Financial Services, Inc , an affiliate) EDGAR ↗
  • Feb 16, 2024 · D · $12,275,160 sold of $250,000,000 · 42 investors · min. $5,000 · role: Executive Officer, Director, Promoter (Vice President of Herzer Financial Services, Inc , an affiliate) EDGAR ↗

Raised $14.6M from 52 investors (6% of the $250M target) as of the latest filing. David is listed as executive officer, director, promoter on 3 filings for this deal.

Latest filing on EDGAR ↗
Sources

Every row is a Form D or D/A on which the issuer listed this name as a related person. Amount sold and investors are the maximum reported on any filing for this issuer. "Similar" = offerings in the same industry claiming the same exemption, filed in the last 5 years: Other Real Estate / 506(b) (5,033 filings); ranges are the middle half (25th–75th percentile). Computed by PartnerFacts from SEC EDGAR Form D data as of Oct 23, 2026, 5:45 PM ET. Rows without a range: fewer than 30 comparable filings, or not a Rule 506 offering. No ranking or score.

SF
REITS and Finance · group: Socotra

SOCOTRA FUND, LLC

Sacramento, CA · Mar 26, 2025
  • Mar 26, 2025 · D/A · $257,524,872 sold of $750,000,000 · 1,219 investors · min. $25,000 · role: Executive Officer, Director, Promoter EDGAR ↗

Raised $257.5M from 1,255 investors (34% of the $750M target) as of the latest filing. David is listed as executive officer, director, promoter.

Latest filing on EDGAR ↗
Sources

Every row is a Form D or D/A on which the issuer listed this name as a related person. Amount sold and investors are the maximum reported on any filing for this issuer. "Similar" = offerings in the same industry claiming the same exemption, filed in the last 5 years: REITS and Finance / 506(b) (3,490 filings); ranges are the middle half (25th–75th percentile). Computed by PartnerFacts from SEC EDGAR Form D data as of Oct 23, 2026, 5:45 PM ET. Rows without a range: fewer than 30 comparable filings, or not a Rule 506 offering. No ranking or score.

SO
REITS and Finance · group: Socotra

SOCOTRA OPPORTUNITY FUND, LLC

Sacremento, CA · Mar 24, 2025
  • Mar 24, 2025 · D/A · $59,761,263 sold of $100,000,000 · 348 investors · min. $25,000 · role: Executive Officer, Director, Promoter EDGAR ↗

Raised $59.8M from 352 investors (60% of the $100M target) as of the latest filing. David is listed as executive officer, director, promoter.

Latest filing on EDGAR ↗
Sources

Every row is a Form D or D/A on which the issuer listed this name as a related person. Amount sold and investors are the maximum reported on any filing for this issuer. "Similar" = offerings in the same industry claiming the same exemption, filed in the last 5 years: REITS and Finance / 506(b) (3,490 filings); ranges are the middle half (25th–75th percentile). Computed by PartnerFacts from SEC EDGAR Form D data as of Oct 23, 2026, 5:45 PM ET. Rows without a range: fewer than 30 comparable filings, or not a Rule 506 offering. No ranking or score.

HF
REITS and Finance · group: Socotra

Herzer Financial Mortgage REIT LLC

Sacramento, CA · Nov 29, 2023
  • Nov 29, 2023 · D · $0 sold of $125,000 · 125 investors · min. $1,000 · role: Executive Officer, Director, Promoter EDGAR ↗

125 investors reported; no amount sold yet as of the latest filing. David is listed as executive officer, director, promoter.

Latest filing on EDGAR ↗
Sources

Every row is a Form D or D/A on which the issuer listed this name as a related person. Amount sold and investors are the maximum reported on any filing for this issuer. "Similar" = offerings in the same industry claiming the same exemption, filed in the last 5 years: REITS and Finance / 506(b) (3,490 filings); ranges are the middle half (25th–75th percentile). Computed by PartnerFacts from SEC EDGAR Form D data as of Oct 23, 2026, 5:45 PM ET. Rows without a range: fewer than 30 comparable filings, or not a Rule 506 offering. No ranking or score.

HF
Other Real Estate · group: Socotra

HERZER FINANCIAL MORTGAGE FUND, LLC

Sacramento, CA · Oct 16, 2023
  • Oct 16, 2023 · D · $54,599,779 sold of $250,000,000 · 209 investors · min. $5,000 · role: Executive Officer, Director, Promoter EDGAR ↗

Raised $76.4M from 343 investors (31% of the $250M target) as of the latest filing. David is listed as executive officer, director, promoter.

Latest filing on EDGAR ↗
Sources

Every row is a Form D or D/A on which the issuer listed this name as a related person. Amount sold and investors are the maximum reported on any filing for this issuer. "Similar" = offerings in the same industry claiming the same exemption, filed in the last 5 years: Other Real Estate / 506(b) (5,033 filings); ranges are the middle half (25th–75th percentile). Computed by PartnerFacts from SEC EDGAR Form D data as of Oct 23, 2026, 5:45 PM ET. Rows without a range: fewer than 30 comparable filings, or not a Rule 506 offering. No ranking or score.

HI
Commercial · group: Socotra

HFS Income Fund, LLC

Redwood City, CA · May 8, 2020
  • May 8, 2020 · D · $0 sold of $6,500,000 · 0 investors · min. $50,000 · role: Executive Officer (President of the Manager of the Issuer.) EDGAR ↗

No sales reported yet as of the latest filing. David is listed as executive officer.

Latest filing on EDGAR ↗
Sources

Every row is a Form D or D/A on which the issuer listed this name as a related person. Amount sold and investors are the maximum reported on any filing for this issuer. "Similar" = offerings in the same industry claiming the same exemption, filed in the last 5 years: Commercial / 506(b) (6,713 filings); ranges are the middle half (25th–75th percentile). Computed by PartnerFacts from SEC EDGAR Form D data as of Oct 23, 2026, 5:45 PM ET. Rows without a range: fewer than 30 comparable filings, or not a Rule 506 offering. No ranking or score.

People around David 6

Officers, directors, promoters and management entities named on the same filings, as of Oct 23, 2026, 5:45 PM ET.

AS
No photo found yet (own website and image search run after this page is viewed)
Person

Adham Sbeih

Executive Officer, Director, Promoter · 7 shared filings (5 issuers) · also on 4 other issuers

Adham Sbeih is on 9 issuers in total — a repeat sponsor. Their page lists every one.

PC
No photo found yet (own website and image search run after this page is viewed)
Person

Paul Cotter

Executive Officer, Director, Promoter · 7 shared filings (5 issuers) · also on 3 other issuers

Paul Cotter is on 8 issuers in total — a repeat sponsor. Their page lists every one.

NG
No photo found yet (own website and image search run after this page is viewed)
Person

Nancy Gann

Executive Officer, Director, Promoter · 7 shared filings (5 issuers)

Nancy Gann is on 5 issuers in total — a repeat sponsor. Their page lists every one.

TI
No photo found yet (own website and image search run after this page is viewed)
Person

Tony Ingoglia

Executive Officer, Director, Promoter · 6 shared filings (5 issuers) · also on 1 other issuer

Tony Ingoglia is on 6 issuers in total — a repeat sponsor. Their page lists every one.

RM
No photo found yet (own website and image search run after this page is viewed)
Person

Roy Malone

Executive Officer, Director, Promoter · 3 shared filings (1 issuer) · also on 6 other issuers

Roy Malone is on 7 issuers in total — a repeat sponsor. Their page lists every one.

AI
No photo found yet (own website and image search run after this page is viewed)
Person

Anthony Ingoglia

Executive Officer, Director, Promoter · 1 shared filing (1 issuer) · also on 4 other issuers

Anthony Ingoglia is on 5 issuers in total — a repeat sponsor. Their page lists every one.

The team behind the deals

S
Sponsor group

Socotra

10 issuers · 42 filings · $423.9M reported sold · 2013–2026

One team, 10 deal companies. David Herzer is listed on 6 of them.

Sources

Issuers are grouped when their Form D filings share related persons, a management entity or a business address (automatic match from the filings). "Listed" marks the issuers that name David Herzer.

Registrations and other filings

Adviser registration (Form ADV)

None of the 6 issuers this person is listed on appears in Form ADV (searched 24,962 advisers as of Oct 2, 2026). A person is never an adviser firm; Form ADV is checked for the issuers and the management companies they are listed with.

Other offering types (Regulation A and Regulation Crowdfunding)

Searched SEC Regulation A Data Sets (Forms 1-A, 1-K, 1-Z; 2015 Q2 → 2026 Q3); SEC Crowdfunding Offerings Data Sets (Form C family; 2016 Q2 → 2026 Q3); EDGAR form index for 2026 Q3 → 2026 Q4 (51,358 records as of Oct 23, 2026, 8:41 PM ET) — nothing matched this name.

Property records none — individuals are not matched

Property records are matched to companies only, never to individuals, so none are matched to David Herzer by design. Searched property records in Hillsborough County FL (Clerk recorded-document index Oct 14, 2026 to Oct 15, 2026 + FL DOR 2026 ownership roll), Miami-Dade County FL (FL DOR 2026 ownership roll), Harris County TX (HCAD 2026 ownership roll), Dallas County TX (DCAD 2026 ownership roll), New York City ACRIS documents and PLUTO ownership rows already retrieved for other issuers, Cook County IL sale and ownership rows already retrieved for other issuers (814,874 records as of Oct 23, 2026, 8:59 PM ET) for the 6 issuers this person is listed on — nothing matched.

Public profiles and social

Websites and social links of the issuers David Herzer is listed on: none on file. No website or social profile named in SOCOTRA FUND, LLC's SEC filings (Form C, Reg A, Form ADV; checked Oct 24, 2026). Web search for this name: #3,969 of 374,652 in line (1,201 issuers searched so far). One-tap searches: Look further ↓

Look further

One-tap searches on sites we do not index ourselves, with the name pre-filled (Sacramento, CA). Each opens in a new tab; what you find there is not verified by PartnerFacts.

Social and web

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Courts

CourtListener / RECAP (federal) ↗PACER case locator (federal, login) ↗California — find the county court ↗Los Angeles Superior Court case search ↗

Securities regulators

SEC EDGAR full-text search ↗SEC action look-up ↗FINRA BrokerCheck ↗SEC IAPD adviser search ↗

Business registries

California Secretary of State business search ↗OpenCorporates ↗

Change history

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