A heat pump system for conditioning air supplied to a space is provided. The system includes a pre-processing module that pre-conditions supply air. A supply air heat exchanger is in flow communication with the pre-processing module. The supply air heat exchanger receives air from the pre-processing module and at least one of heats or cools the air from the pre-processing module. A processing module is in flow communication with the supply air heat exchanger. The processing module receiving and conditioning air from the supply air heat exchanger. A regeneration air heat exchanger is provided to at least one of heat or cool regeneration air. The regeneration air heat exchanger and the supply air heat exchanger are fluidly coupled by a refrigerant system.