Exclusive: Paterakis, Beatty split Harbor East, Harbor Point into two companies

Michael S. Beatty, co-founder of H&S Properties Development along with John Paterakis, is spinning off from the bakery magnate to form his own development company.

Harbor East Cos., the development and property management company headed by Paterakis, will be split into two separate companies — Harbor Point Development Group LLC and Harbor East Management Group. Beatty, who has led the development side of Harbor East since 1995, will become president of Harbor Point Development Group. Tim O’Donald,…