Newton based real estate financier Ashworth Mortgage Corp. will change its name Capital Alliance Advisors, after striking a deal with New York-based Estreich & Co. that aims to increase Ashworth’s range of and broaden Estreich’s New England presence.

Under the agreement, Ashworth Mortgage will join with Estreich & Co. to become Capital Alliance Advisors, an entity owned by both firms and focused on expanding both companies’ existing portfolio of business in New England, according to a statement. The partnership will allow Ashworth to offer a broader array of services and undertake larger projects, while also establishing Estreich & Co.’s presence in New England.

"As the commercial real estate industry continues to rebound, our alliance will provide an excellent platform to grow our business while increasing our services to existing clients," Ashworth Founding Partner Dick Ashworth said in a statement. "We are excited to join with an established group that not only shares our business philosophy but also our desire to grow for years to come."

Capital Alliance will specialize in the placement of debt and equity financing for all types of commercial real estate with a client-centered approach, the companies said. Sal Torre, a partner at Estreich and Co., will be responsible for acting as liaison between the two companies.

"We are very pleased to embark on this partnership with Ashworth Mortgage," said Jonathan Estreich, founder of Estreich & Co.  "We are always considering innovative ways to make our business more sustainable – always with a primary focus on how to serve our clients.  After many conversations with Dick Ashworth, we found that aligning with his firm is not only a strategic fit, but also a cultural fit due to our shared focus on approaching transactions with a critical focus on the borrower."