Check out the video comparing an Aermec water system to a VRF refrigerant system!
With VRF you will also be tied to the manufacturer you choose for the life of your building and their control system. A VRF system requires very specific technical knowledge so your service providers are limited. Finally, OA on a VRF system require a separate system. NOTE: You better treat the moisture with something other than a bunch high sensible-low/none latent capacity VRF FCU's. No such problems exist with chilled water.