Airport upgrades offer buying opportunities: Expert

Profit from airport upgrades

Investors looking to generate returns on transportation projects can find opportunities in privately owned airports and roads abroad, an infrastructure investor said Monday.

Stock pickers can "own the owners" of notable transportation hubs, buying shares of companies that operate successful airfields or roadways, said Josh Duitz, portfolio manager of the Alpine Global Infrastructure Fund.

"These are steady, predictable cash flow streams over time, and growing," he said in a CNBC "Power Lunch" interview.

A departure terminal at Frankfurt Airport, operated by Fraport AG.
Ralph Orlowski | Bloomberg | Getty Images

Duitz's comments came as New York Gov. Andrew Cuomo unveiled a $4 billion overhaul of the New York City area LaGuardia Airport. While NYC airports are government owned, many heavily trafficked air and road hubs abroad are managed by publicly traded companies.

Read MoreNY Gov details $4B overhaul for LaGuardia Airport

He pointed to Sweden's Skanska, France's Aéroports de Paris, Spanish multinational Ferrovial and German firm Fraport as companies that make strong returns on transportation facilities. Investors can trade those names—which Duitz called "fairly liquid" and "large"—on local exchanges.

The Alpine fund has a four-star Morningstar rating.