FLATWOODS, Ky. — The sale of The Oaks property has been finalized, Flatwoods Mayor Ron Fields said.

The new owners, Dr. Barnard Pigassou, Martine Pigassou-Duzer and Caroline Pigassou, bought the property “sight unseen,” Fields said. The purchase was finalized Friday with the help of several attorneys, Kentucky Farmers Bank and others, he said.

The buyers are from France and the corporation they have established in Kentucky is called French Oaks Village LLC.

They plan to prep lots for sale in a subdivision to be called Whispering Oaks and already have submitted deed restrictions to the Greenup County Planning and Zoning Board, Fields said. The new subdivision will be Phase 3 of the subdivision; Phases 1 and 2 are complete and the deed restrictons are expected to be similar to the previous two.

Fields said Phase 3 is expected to include condominum-style housing.

“It’s not going to be cheap stuff,” Fields said. “They want to do some nice things there.”

In addition, Modologie, a beauty company that offers high-tech facials and luxury, medical-grade skin products, plans to make its headquarters in the clubhouse after renovations. The company will offer a beauty salon to use as a showroom and training center. The company was founded by Caroline Pigassou.

Fields said the shelter house near the clubhouse will be enclosed and used, in part, as a warehouse for Modologie products; the remainder will house a French bakery.

The company also plans to have a vineyard.