Electrospinning can be used to produce nanofiber mats containing diverse nanoparticles for various purposes. Magnetic nanoparticles, such as magnetite (FeO), can be introduced to produce magnetic nanofiber mats, e.g., for hyperthermia applications, but also for basic research of diluted magnetic systems. As the number of nanoparticles increases, however, the morphology and the mechanical properties of the nanofiber mats decrease, so that freestanding composite nanofiber mats with a high content of nanoparticles are hard to produce. Here we report on poly (acrylonitrile) (PAN) composite nanofiber mats, electrospun by a needle-based system, containing 50 wt% magnetite nanoparticles overall or in the shell of core-shell fibers, collected on a flat or a rotating collector. While the first nanofiber mats show an irregular morphology, the latter are quite regular and contain straight fibers without many beads or agglomerations. Scanning electron microscopy (SEM) and atomic force microscopy (AFM) reveal agglomerations around the pure composite nanofibers and even, round core-shell fibers, the latter showing slightly increased fiber diameters. Energy dispersive X-ray spectroscopy (EDS) shows a regular distribution of the embedded magnetic nanoparticles. Dynamic mechanical analysis (DMA) reveals that mechanical properties are reduced as compared to nanofiber mats with smaller amounts of magnetic nanoparticles, but mats with 50 wt% magnetite are still freestanding.