Remote IP Address over PepVPN

Welcome to the forum.

Yes. But why do you want to do this? What is the goal? What you are looking for is a layer 2 bridged VLAN over VPN. I made a video about that a while a go here (SD-WAN as a Long Distance Ethernet Cable.

Unless it has multiple network cards, that device would only be able to have a single IP in the 192.168.2.x network - it will also likely need to be cabled to a specific LAN port on your Balance (or managed switch).

You would build a layer 2 and layer 3 vpn Concurrent Layer 2 and Layer 3 VPN tunnels between the same sites

Then assign the layer 2 to a VLAN that you then present to the device you want to be on the ‘remote network’.